University of Michigan’s Consumer Sentiment Index
The University of Michigan’s Consumer Sentiment Index (UMSCI) is a measure of consumer confidence in the economy. It is based on a survey of 500 households in the United States and is released monthly by the University of Michigan’s Survey Research Center. The index is used to gauge consumer attitudes about current economic conditions and future expectations. It is also used to predict consumer spending, which is a major driver of economic growth.
History of the Index
The UMSCI was first developed in the late 1950s by the University of Michigan’s Survey Research Center. The index was initially based on a survey of 5,000 households, but the sample size was later reduced to 500 households. The index is based on responses to questions about current economic conditions and future expectations. The index is updated monthly and is widely used by economists, investors, and policymakers to gauge consumer sentiment.
Comparison Table
| Month | Index Value |
|---|---|
| January | 89.2 |
| February | 90.5 |
| March | 91.7 |
| April | 92.9 |
Summary
The University of Michigan’s Consumer Sentiment Index is a measure of consumer confidence in the economy. It is based on a survey of 500 households in the United States and is released monthly by the University of Michigan’s Survey Research Center. The index is used to gauge consumer attitudes about current economic conditions and future expectations. It is also used to predict consumer spending, which is a major driver of economic growth. For more information about the UMSCI, visit the University of Michigan’s website or the Federal Reserve Bank of St. Louis website.
See Also
- Consumer Price Index
- Gross Domestic Product
- Unemployment Rate
- Housing Starts
- Retail Sales
- Industrial Production
- Consumer Confidence Index
- Business Confidence Index
- Inflation Rate
- Interest Rates
