2017 Economic Calendar
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Consumer Sentiment  
Released On 9/15/2017 10:00:00 AM For Sep(p), 2017
PriorConsensusConsensus RangeActual
Sentiment Index - Level96.8 96.0 94.0  to 97.3 95.3 

Highlights
Hurricanes Harvey and Irma did cut into consumer sentiment but not by much. The preliminary sentiment index for September fell to 95.3 vs 96.8 in August with weakness centered in expectations where the component fell 4.3 points to 83.4.

But weakness isn't the story of this report, rather unusual strength. The current conditions component rose 3 points to 113.9 for the best level in nearly 17 years. Assessments of personal finances, like those in the monthly consumer confidence report, are the best of the expansion in strength that belies weakness in wages but is consistent with strength in home values and also the stock market.

Inflation expectations show some hurricane effects but again not much. Both 1-year and 5-year expectations are up 1 tenth to 2.7 and 2.6 percent respectively.

Hurricane Katrina back in 2005 made a much bigger initial impact on this index, at more than 12 points, than Harvey and Irma together. Backed by full employment, this has been a year of unusually strong confidence which has, however, yet to give consumer spending the same kind of lift as evident in this morning's retail sales report.

Recent History Of This Indicator
Despite Hurricane Harvey and the approach of Hurricane Irma, forecasters are not calling for much of a downdraft in the consumer sentiment index for preliminary September. The consensus is at 96.0 vs 96.8 in final August (preliminary August was 97.6).

Definition
The University of Michigan's Consumer Survey Center questions 500 households each month on their financial conditions and attitudes about the economy. Consumer sentiment is directly related to the strength of consumer spending. Consumer confidence and consumer sentiment are two ways of talking about consumer attitudes. Among economic reports, consumer sentiment refers to the Michigan survey while consumer confidence refers to The Conference Board's survey. Preliminary estimates for a month are released at mid-month. Final estimates for a month are released near the end of the month.  Why Investors Care
 
[Chart]
Consumer sentiment is mainly affected by inflation and employment conditions. However, consumers are also impacted by current events such as bear & bull markets, geopolitical events such as war and terrorist attacks. Investors monitor consumer sentiment because it tends to have an impact on consumer spending over the long run [although not necessarily on a monthly basis.]
 
 

2017 Release Schedule
Released On: 1/131/272/102/243/173/314/134/285/125/266/166/307/147/288/18
Release For: JanJanFebFebMarMarAprAprMayMayJunJunJulJulAug
 
Released On: 9/19/159/2910/1310/2711/1011/2212/812/22
Release For: AugSepSepOctOctNovNovDecDec
 


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