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US: Consumer sentiment jumps higher in early January
Mon, Jan 22 2007, 17:59 GMT
by KBC Market Research Desk
US: Consumer sentiment jumps higher in early January
Consumer sentiment improved sharply in early January according to the preliminary Michigan report. The improvement was driven by lower energy prices, higher wages and improved economic prospects according to the Michigan analysts. Looking to the details, the headline index jumped unexpectedly to 98 from 91.7 previously. Consensus was looking for a figure in the vicinity of 92. The details fully underpinned the jump in the headline index. Both the current situation index and the expectations index rose substantially. Consumers were more optimistic about their personal finances, the business outlook and rated buying conditions as excellent. The 1-year ahead inflation expectation ticked higher to 3% from 2.9% previously, while the 5-to-10-year inflation forecast stabilized at 3%. While the relationship between consumer sentiment and consumption expenditures are rather loose, it is an encouraging development. Lower energy prices will in the ST probably keep consumption at elevated level.
Other: UK retail sales surprise on the upside
In December, UK retail sales rose a strong 1.1% M/M raising the underlying three month growth rate from only 0.5% in the three months to November to 1.4% in the three months to December. This will further raise speculation on an early Bank of England rate hike.
Published on Mon, Jan 22 2007, 18:17 GMT
Archive
- US: Payrolls report disappoints in June
Published On Fri, Jul 3 2009, 07:38 GMT - US: ADP employment report disappoints in June
Published On Thu, Jul 2 2009, 08:14 GMT - US: Consumer confidence deteriorates in June
Published On Wed, Jul 1 2009, 07:22 GMT - EMU: economic confidence improves further in June
Published On Tue, Jun 30 2009, 07:37 GMT - US: personal income surges due to fiscal stimulus
Published On Mon, Jun 29 2009, 07:26 GMT
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