Monitor US Prelim UoM Consumer Sentiment to gauge financial confidence, a key driver of consumer spending and economic activity.
Consumer confidence serves as a key indicator of spending habits, which significantly contribute to overall economic activity. This data is provided in two versions spaced 14 days apart: the Preliminary and the Revised. The earlier Preliminary release generally has a more substantial impact.
What it Measures
Composite index level derived from consumer surveys.
Usual Effect
If the 'Actual' figure exceeds the 'Forecast', it is favorable for the currency.
Source & Frequency
University of Michigan (latest release) - https://umich.edu/ • Released on a monthly basis, typically during the middle of the month.
How Data is Derived
Survey of about 420 consumers which asks respondents to rate the relative level of current and future economic conditions
Also Known As
N/A
Acronym
University of Michigan (UoM)