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EventReuters/Michigan Consumer Sentiment Index
DescriptionThe index represents the consumers’ inquiry results regarding the rate of confidence in the current economic situation. The inquiry includes about 500 respondents. This review helps to determine the level of consumers wish to spend their money. The index is the leading indicator of the consumers’ sentiment. The index is calculated by adding to 100the difference between the number of optimists and pessimists, expressed in percent. The index has preliminary and final data. Preliminary data have stronger effect on the markets.
EffectIt has a moderate impact on the markets. The index growth or the excess of the forecast by the actual value, depending on the situation in the market, can be both positive and negative for the dollar.
SourceUniversity of Michigan