by Calculated Risk on 9/16/2011 09:55:00 AM
Friday, September 16, 2011
The preliminary September Reuters / University of Michigan consumer sentiment index increased slightly to 57.8 from 55.7 in July.
Click on graph for larger image in graphic gallery.
In general consumer sentiment is a coincident indicator and is usually impacted by employment (and the unemployment rate) and gasoline prices. In August, sentiment was probably negatively impacted by the debt ceiling debate.
Note: It usually takes 2 to 4 months to bounce back from an event driven decline in sentiment (if the August decline was event driven) - and any bounce back from the debt ceiling debate would be to an already weak reading.
This was slightly above the consensus forecast of 56.0.