Reopening Economy Fueling Employment Gains, In Turn Fueling Optimistic Consumer Sentiment
Urethane Blog
Consumer Sentiment Rises
June 12, 2020
Preliminary Consumer Sentiment for June Easily Beats Expectations
Ann Arbor, Mich. (PPD) — The Survey of Consumers preliminary reading on consumer sentiment rose from 72.3 in May to 78.9 in June, easily beating the consensus forecast. Forecasts for the headline index ranged from a low of 72.0 to a high of 78.0, and the consensus forecast was 75.0.
| June (P) | May (F) | May (P) | March | May | M-M | Y-Y | |
| 2020 | 2020 | 2020 | 2020 | 2019 | Change | Change | |
| Index of Consumer Sentiment | 78.9 | 72.3 | 73.7 | 89.1 | 100.0 | +9.1% | -19.7% |
| Current Economic Conditions | 87.8 | 82.3 | 83.0 | 103.7 | 110.0 | +6.7% | -21.5% |
| Index of Consumer Expectations | 73.1 | 65.9 | 67.7 | 79.7 | 93.5 | -10.9% | -18.1% |
F = Final | P = Preliminary
“Consumer sentiment posted its second monthly gain in early June, paced by gains in the outlook for personal finances and more favorable prospects for the national economy due to the reopening of the economy,” said Chief Economist for Surveys of Consumers, Richard Curtin. “The turnaround is largely due to renewed gains in employment, with more consumers expecting declines in the jobless rate than at any other time in the long history of the Michigan surveys.”
https://www.peoplespunditdaily.com/news/economy/2020/06/12/preliminary-consumer-sentiment-for-june-easily-beats-expectations/
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