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Michigan Consumer Sentiment Index

Consumer exuberance can translate into greater spending and faster economic growth, implying a stronger labor market and a potential pick-up in inflation, helping turn the Fed hawkish. This survey’s popularity among analysts (mentioned more frequently than CB Consumer Confidence) is justified because the data here includes interviews conducted up to a day or two before the official release, making it a timely measure of consumer mood, but foremost because it gauges consumer attitudes on financial and income situations. Actual figures beating consensus tend to be USD bullish.

Most recent - Friday 26 May 2023 14:00

Previous
57.7
Forecast
57.7
Actual
59.2

Higher numbers than forecast tend to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Next event - Friday 16 June 2023 14:00

Previous
59.2
Forecast
56.6
Actual
-

The typical/expected impact on USD pairs is high.

The consensus forecast for Michigan Consumer Sentiment Index is 56.6. A higher value than forecast tends to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Trading range

Forecast history

The most recent announced value for Michigan Consumer Sentiment Index was 59.2 against a forecast of 57.7.

Past events

Date
Forecast
Actual
Friday 26 May 2023 14:00
57.7
59.2
Friday 12 May 2023 14:00
63
57.7
Friday 28 April 2023 14:00
63.5
63.5
Friday 14 April 2023 14:00
62
63.5
Friday 31 March 2023 14:00
63.2
62
Friday 17 March 2023 14:00
67
63.4
Friday 24 February 2023 15:00
66.4
67
Friday 10 February 2023 15:00
65
66.4
Friday 27 January 2023 15:00
64.6
64.9
Friday 13 January 2023 15:00
60.5
64.6
Friday 23 December 2022 15:00
59.1
59.7
Friday 9 December 2022 15:00
53.3
59.1
Wednesday 23 November 2022 15:00
55
56.8
Friday 11 November 2022 15:00
59.5
54.7
Friday 28 October 2022 14:00
59.8
59.9
Friday 14 October 2022 14:00
59
59.8
Friday 30 September 2022 14:00
59.5
58.6
Friday 16 September 2022 14:00
60
59.5
Friday 26 August 2022 14:00
55.2
58.2
Friday 12 August 2022 14:00
52.5
55.1
Friday 29 July 2022 14:00
51.1
51.5
Friday 15 July 2022 14:00
49.9
51.1
Friday 24 June 2022 14:00
50.2
50
Friday 10 June 2022 14:00
58
50.2
Friday 27 May 2022 14:00
59.1
58.4
Friday 13 May 2022 14:00
64
59.1
Friday 29 April 2022 14:00
65.7
65.2
Thursday 14 April 2022 14:00
59
65.7
Friday 25 March 2022 14:00
59.7
59.4
Friday 11 March 2022 15:00
61.4
59.7
Friday 25 February 2022 15:00
61.7
62.8
Friday 11 February 2022 15:00
67.5
61.7
Friday 28 January 2022 15:00
68.7
67.2
Friday 14 January 2022 15:00
70
68.8
Thursday 23 December 2021 15:00
70.4
70.6
Friday 10 December 2021 15:00
67.1
70.4
Wednesday 24 November 2021 15:00
66.9
67.4
Friday 12 November 2021 15:00
72.4
66.8
Friday 29 October 2021 14:00
71.4
71.7
Friday 15 October 2021 14:00
73.1
71.4
Friday 1 October 2021 14:00
71
72.8
Friday 17 September 2021 14:00
72.2
71
Friday 27 August 2021 14:00
70.7
70.3
Friday 13 August 2021 14:00
81.2
70.2
Friday 30 July 2021 14:00
80.8
81.2
Friday 16 July 2021 14:00
86.5
80.8
Friday 25 June 2021 14:00
86.5
85.5
Friday 11 June 2021 14:00
84
86.4
Friday 28 May 2021 14:00
82.9
82.9
Friday 14 May 2021 14:00
90.4
82.8
Friday 30 April 2021 14:00
87.5
88.3
Friday 16 April 2021 14:00
89.6
86.5
Friday 26 March 2021 14:00
83.6
84.9
Friday 12 March 2021 15:00
78.5
83
Friday 26 February 2021 15:00
76.5
76.8
Friday 12 February 2021 15:00
80.8
76.2
Friday 29 January 2021 15:00
79.2
79
Friday 15 January 2021 15:00
80
79.2
Wednesday 23 December 2020 15:00
81.3
80.7
Friday 11 December 2020 15:00
76.5
81.4
Wednesday 25 November 2020 15:00
77
76.9
Friday 13 November 2020 15:00
82
77
Friday 30 October 2020 14:00
81.2
81.8
Friday 16 October 2020 14:00
80.5
81.2
Friday 2 October 2020 14:00
79
80.4
Friday 18 September 2020 14:00
75
78.9
Friday 28 August 2020 14:00
72.8
74.1
Friday 14 August 2020 14:00
72
72.8
Friday 31 July 2020 14:00
73
72.5
Friday 17 July 2020 14:00
79
73.2
Friday 26 June 2020 14:00
79
78.1
Friday 12 June 2020 14:00
75
78.9

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Michigan Consumer Sentiment Index result:

PreviousLatest
Average Hourly Earnings (MoM)Bearish change0.4%0.3%
Average Hourly Earnings (YoY)Bearish change4.4%4.3%
Labor Force Participation Rate(no change)62.6%62.6%
Nonfarm PayrollsBullish change294K339K
U6 Underemployment RateBearish change6.6%6.7%
Unemployment RateBearish change3.4%3.7%
ISM Manufacturing Employment IndexBullish change50.251.4
ISM Manufacturing New Orders IndexBearish change45.742.6
ISM Manufacturing PMIBearish change47.146.9
ISM Manufacturing Prices PaidBearish change53.244.2
S&P Global Manufacturing PMIBearish change48.548.4
Initial Jobless ClaimsBearish change230K232K
Initial Jobless Claims 4-week averageBullish change232K229.5K
Nonfarm ProductivityBullish change-2.7%-2.1%
Unit Labor CostsBearish change6.3%4.2%
ADP Employment ChangeBearish change291K278K
Chicago Purchasing Managers' IndexBearish change48.640.4
Housing Price Index (MoM)Bearish change0.7%0.6%
S&P/Case-Shiller Home Price Indices (YoY)Bearish change0.4%-1.1%
UoM 5-year Consumer Inflation ExpectationBearish change3.2%3.1%
Core Personal Consumption Expenditures - Price Index (MoM)Bullish change0.3%0.4%
Core Personal Consumption Expenditures - Price Index (YoY)Bullish change4.6%4.7%
Durable Goods OrdersBearish change3.3%1.1%
Durable Goods Orders ex DefenseBearish change3.2%-0.6%
Durable Goods Orders ex TransportationBearish change0.3%-0.2%
Nondefense Capital Goods Orders ex AircraftBullish change-0.6%1.4%
Personal Income (MoM)Bullish change0.3%0.4%
Personal SpendingBullish change0.1%0.8%
Pending Home Sales (MoM)Bullish change-5.2%0%
Chicago Fed National Activity Index Bullish change-0.370.07
Core Personal Consumption Expenditures (QoQ)Bullish change4.9%5%
Gross Domestic Product AnnualizedBullish change1.1%1.3%
Gross Domestic Product Price IndexBullish change4%4.2%
Initial Jobless ClaimsBearish change225K229K
Initial Jobless Claims 4-week average(no change)231.75K231.75K
Personal Consumption Expenditures Prices (QoQ)(no change)4.2%4.2%
New Home Sales (MoM)Bullish change0.656M0.683M
S&P Global Composite PMIBullish change53.454.5
S&P Global Manufacturing PMIBearish change50.248.5
S&P Global Services PMIBullish change53.655.1

About Michigan Consumer Sentiment Index

Country:United States
Currency:USD
Source:University of Michigan
Category:Consumption
Frequency:Monthly
 
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