The downwardly-revised
Michigan sentiment drop to a 3-year low of 89.8 (was 92.1) from 98.4 in July left the measure well below the 14-year high of 101.4 in March of 2018.
housing starts, building permits, industrial production and the University of
Michigan sentiment index.
The Thomson Reuters/ University of
Michigan sentiment index fell to 77.5 in September, compared to an August reading of 82.1.
The University of
Michigan Sentiment Index fell to 74.3 from 75.3 but this remains a positive reading and shows confidence remains high in the US.
inflation and industrial output figures and a University of
Michigan sentiment survey and strong readings could help push it higher.
consumer price index and December retail sales as well as the Reuters/University of
Michigan sentiment data.
"While the
Michigan sentiment survey still remains above the 55.3 low in November 2008, all of the confidence measures still remain in recessionary territory despite the rebound in the economy, and recent weakness is a notable concern," AE stated.
Figures on the industry orders and preliminary index of consumer mood by
Michigan Sentiment were output being approximately at the expected levels.
The retail sales and University of
Michigan sentiment reports are notable readings for measuring the health of the large consumer sector.
On the data front, the Reuters/University of
Michigan sentiment survey was expected to show a reading of 62.0 in August, a slight improvement from 61.2 in July.
The Reuters/University of
Michigan sentiment index for this month dropped to 56.7 from 59.8 last month.
The index of consumer sentiment used here is the Expectations Component of the University of
Michigan Sentiment Index.
