The University of Michigan released its Consumer Sentiment Index on Friday. The index dropped sharply from 78.4 in January 2008 to 69.6 for February. Economists surveyed by MarketWatch had expected a February reading of 74.0. This is the lowest level it has been at since 1992.
The University of Michigan Consumer Sentiment Index is almost identical to the Conference Board’s Consumer Confidence survey that is part of the Conference Board’s Leading Index. The Conference Board releases their index on the last Tuesday of the month. The University of Michigan publishes a preliminary reading on the second Friday of each month and a final reading on the fourth Friday of each month.
The University of Michigan Consumer Sentiment Index is almost identical to the Conference Board’s Consumer Confidence survey that is part of the Conference Board’s Leading Index. The Conference Board releases their index on the last Tuesday of the month. The University of Michigan publishes a preliminary reading on the second Friday of each month and a final reading on the fourth Friday of each month.
Since 1960, readings below 74 have happened during times of recessions except for the four months at the end of 1991 and the beginning of 1992.
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