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University of Michigan consumer confidence index falls in November, but reflects strong consumer sentiment

The initial estimate of the University of Michigan index of consumer confidence dropped in November from a high level, reversing the solid gains seen in October. Despite the correction from the increased levels recorded in the prior month, the print released today reflects strong consumer confidence, noted Barclays in a research report. The headline print fell from 100.7 in October to 97.8 in November.

The current conditions index dropped from 116.5 to 113.6, while the expectations measure dropped to 87.6 from 90.5, both of which are in line with the deceleration in the headline index. The inflation expectations side of the survey rebounded for the one-year-ahead measure, but remained the same for the 5-10-year-ahead measure.

“Overall, the still-strong performance of the headline index for consumer sentiment suggests that households remain confident, and this should be supportive of GDP growth”, stated Barclays.

At 20:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at -40.4657. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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2017-11-23 16:31:32
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2017-11-23 16:30:58
0m

November 23 19:00 UTC Released

AREconomic Activity YY*

Actual

955 %

Forecast

-800 %

Previous

1755 %

November 23 19:00 UTC Released

ARRich Fed Mfg Shipments*

Actual

3.8 %

Forecast

4.4 %

Previous

-0.6000 %

November 23 21:00 UTC 4646m

KRConsumer Sentiment Ind*

Actual

Forecast

Previous

109 Bln USD

November 23 23:50 UTC 216216m

JPForeign Bond Investment

Actual

Forecast

Previous

-105 Bln JPY

November 23 23:50 UTC 216216m

JPForeign Invest JP Stock

Actual

Forecast

Previous

182.4 Bln JPY

November 24 00:30 UTC 256256m

JPNikkei Mfg PMI Flash

Actual

Forecast

Previous

52.8 bln $

November 24 09:00 UTC 766766m

DEIfo Business Climate*

Actual

Forecast

116.6 %

Previous

116.7 %

November 24 09:00 UTC 766766m

DEIfo Current Conditions*

Actual

Forecast

125 %

Previous

124.8 %

November 24 09:00 UTC 766766m

DEIfo Expectations*

Actual

Forecast

108.9 %

Previous

109.1 %

November 24 09:00 UTC 766766m

ITIndustrial Orders MM SA

Actual

Forecast

Previous

8.7 %

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