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US: UoM Consumer Confidence Index improves to 59.1 in December vs. 56.8 expected
UoM Consumer Confidence Index rose modestly in early December. US Dollar Index holds steady slightly below 105.00. Consumer sentiment improved in the US in early December with the University of Michigan's (UoM) Consumer Confidence Index rising to 59.1 from 56.8 in November. This reading came in better than the market expectation of 53.3. "Year-ahead inflation expectations improved considerably but remained relatively high, falling from 4.9% to 4.6% in December, the lowest reading in 15 months but still well above 2 years ago," the UoM further noted in its publication. "At 3.0%, long run inflation expectations ... (full story)
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UMich US December prelim consumer sentiment 59.1 vs 56.9 expected
• Prior was 54.7 • Current conditions 60.2 vs 58.0 exp • Expectations 58.4 vs 56.0 exp • One-year inflation 4.6% vs 4.9% prior • Five-year inflation 3.0% vs 3.0% prior I'm not a fan of this report. It's nothing more than a Presidential approval poll combined with sentiment around gas prices. I'm not surprised it's jumped after people had a chance too cool off following the mid-terms but the headline doesn't tell you anything about the state of the consumer. Despite today's beat, it's still below 2009 levels. What is interesting is the fall in one-year inflation expectations, which is the lowest since Sept ... (full story)
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