Tag Archives: Consumer Confidence

The University of Michigan's measure of consumer sentiment dropped from 81.9 to 81.2 in June with the decline entirely spurred by a decline in the expectations index. While expectations turned slightly sour in June, the current conditions index experienced an increase from 94.5 to 95.4.

In contrast to a release earlier in the week showing an increase in consumer confidence, the University of Michigan's Index of Consumer Sentiment retreated in May as Americans expressed little hope for income growth. The index, released monthly by UMich and Thomson Reuters, fell back to 81.9 from April's final level of 84.1 and May 2013's 84.5.

In a preliminary report issued last week, Thomson Reuters and the University of Michigan reported a decline in their joint Index of Consumer Sentiment to a reading of 81.8 from April's final reading of 84.1. A large portion of the overall decline came from a decrease in the survey's Current Conditions Index, which may have suffered from concern over a slowing housing market.

A survey of consumer expectations released by the Federal Reserve Bank of New York finds home price change expectations are down once again, with projected growth over the next 12 months forecast at 3.77 percent. It was the third straight monthly decline.

The results of Fannie Mae's April National Housing Survey show 42 percent of Americans believe now is a good time to sell a home. This is the third straight month that the percentage of respondents saying it’s a good time to sell has increased, bringing that percentage to an all-time survey high. Fannie is taking it as a good sign that buying activity will increase in the coming months, as potential buyers may look to shed their homes in order to buy new ones.

Wells Fargo's April data suggests consumer sentiment slipped in Florida one point to 79 for the month, largely due to increased concerns about current economic conditions. The concern, both locally and nationally, outweighed a slight increase in confidence about future conditions for the economy as a whole. The Florida index largely reflected the nation's attitude, with the overall index dropping slightly to 82.3.

A late-month measure of consumer confidence shows sentiment rebounded to a near post-recession high in April, though questions remain as to whether or not that optimism will hold out. The latest Index of Consumer Sentiment, released jointly by Thomson Reuters and the University of Michigan, came to a final reading of 84.1 for April, resting one index point below its post-recession peak recorded last July.

With all of its ups and downs in recent months, the housing market is looking "noisy" heading into spring, Freddie Mac says. "We're getting mixed signals as we start the spring home buying season. Tight inventory may pose a significant challenge for home buyers in many markets across the country, which may result in higher home prices and sales being lower than expected," said Frank Nothaft, VP and chief economist.

The latest Survey of Consumer Expectations from the Federal Reserve Bank of New York shows home price change expectations have declined slightly, falling to a projected 3.8 percent for the year ahead—the lowest level seen since October last year. The Fed found that the pattern did not hold in the West, where home prices are expected to continue at an even stronger pace.

According to a release Tuesday, the Conference Board Consumer Confidence Index improved to 82.3 in the latest survey, up four points from February’s reading. It was the strongest index value since January 2008. “Overall, consumers expect the economy to continue improving and believe it may even pick up a little steam in the months ahead,” said Lynn Franco, director of economic indicators for the Conference Board.