Forex Guides

Consumer Sentiment in U.S. Declines From Six-Year High

Consumer sentiment is important as it concerns the economy as a whole. We need to monitor if this is just noise or a reversal of progress. Nonetheless we are probably still in a “positive sentiment” territory for now although the current equities correction is worrying. Good reading from Bloomberg.

Michigan Consumer Sentiment Index Decreased to 82.7 From 84.5

Consumer confidence in June eased from a six-year high as progress in the labor market supported Americans’ views of the economic outlook. The Thomson Reuters/University of Michigan preliminary index of consumer sentiment declined to 82.7 in June from 84.5 the prior month that was the highest since July 2007, a report today showed. The median forecast in a Bloomberg survey was unchanged at 84.5. Steady hiring gains coupled with rising equity prices and property values are underpinning Americans’ confidence. Further improvement from the 175,000 jobs added last month may be needed to help accelerate the consumer purchases that make up about 70 percent of the economy. “The stock market peaked in late May, so you may be seeing some of that being reflected in the number,” said Michael Feroli , chief U.S. economist at JPMorgan Chase & Co. in New York , who projected a drop in the gauge to 82.5. “In general, the consumer is in a relatively good position.” Forecasts in the Bloomberg survey ranged from 82 to 89. The index averaged 64.2 during the recession that ended in June 2009 and 89 in the five years prior. Bloomberg Comfort The Michigan survey follows the weekly Bloomberg Consumer Comfort Index (COMFCOMF) , released yesterday, which slipped to minus 31.3 for the period ended June 9, a two-month low, from minus 29.7. It reached a five-year high of minus 28.9 in late April. The decline in the Michigan survey this month was centered in the current conditions index, which takes stock of Americans’ views of their personal finances. The measure dropped to 92.1 from 98 in May, which was the highest since August 2007. The index of expectations six months from now climbed to 76.7 this month, the highest since November, from 75.8 in May. Steady job gains […]

Invest In Yourself And Get Premium Analysis
Less than 20 cents a day
Major Currency Pairs Analysis
Forex Sentiment Analysis
Understand The Market
10 days money back guarantee

View Subscription Options

Would you like to connect?
Get notifications on new forecasts and articles.

Sign up to our emailing list and get your FREE Stop Losing and Start Winning in Forex Checklist!

Trending Forex Articles

  • EURUSD Weekly ForecastConsumer Sentiment in U.S. Declines From Six-Year High
  • EURUSD WeeklyConsumer Sentiment in U.S. Declines From Six-Year High
  • Consumer Sentiment in U.S. Declines From Six-Year High
  • eur usd daily analysisConsumer Sentiment in U.S. Declines From Six-Year High
  • 3 ways how the economy may affect forex tradingConsumer Sentiment in U.S. Declines From Six-Year High
  • EUR USD Daily ChartConsumer Sentiment in U.S. Declines From Six-Year High