Consumers confidence going down

University of Michigan Consumer Confidence – March 2014

Although it’s not having much market impact, the first-take from Michigan on consumer confidence failed to match forecasts of a climb, and edged lower this month. The headline gauge fell to 79.9 from 81.6 and was weighed down by the sharpest decline in the outlook index. The 3.3-point drop to 69.4 for the outlook gauge carries more weight (60%) in the headline component. The current conditions gauge, which accounts for 40% of the headline, actually advanced for March to 96.1 from a February reading of 95.4. The series of indexes has a base value of 100 set in 1966. And while confidence is approaching its highs achieved in December, the level remains below the heady days of 2006 when it popped above 113.0.

Chart – Biggest slip in five months for consumers’ outlook

About the Author
Andrew Wilkinson

Andrew is a seasoned trader and commentator of global financial markets. He worked for several London-based banks trading cash and derivatives before moving to the U.S. to attend graduate school. Andrew re-joins Interactive Brokers following a two-year stretch at a major Wall Street broker-dealer as their Chief Economic Strategist. His coverage of stocks, options, futures, forex and bonds regularly surfaces in global media, and over the last several years Andrew has made many TV appearances on Bloomberg, BBC, CNBC and BNN and Yahoo Finance.

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