Why people are talking about consumer sentiment this month
UMICH CONSUMER SENTIMENT
Economic Indicators - Consumer
The UMich Consumer Sentiment monthly report will be released tomorrow, June 29th. This month, Estimize projects consumer sentiment to come in at 99.2, which is high relative to readings over the last year. Consumer Sentiment has risen more than predicted because people are currently feeling more positive about their financial situations. The increased Consumer Sentiment reading reflects the large amounts of discretionary spending and a high number of durable goods (large ticket items) being purchased in the economy.
People are always interested in consumer spending updates because it accounts for about 70% of GDP. Currently, consumer sentiment is very strong due to a robust economic climate and low unemployment rate. As consumers have more money in their pockets, they will spend more, and contribute to economic growth. Consumer sentiment is an extremely telling indicator of how GDP is performing, and the direction of the economy.
What do you think the consumer sentiment will be? Place your estimate here!
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