August 2017 consumer sentiment data
In August 2017, US consumer sentiment was at 96.8, significantly higher than the 89.8 in August 2016. Clearly, this data reflected a significant improvement in US consumer sentiment in the last one year.
The University of Michigan and Thomson Reuters report US Consumer Sentiment Index every month. The Survey Research Center conducts an underlying survey consisting of at least 500 telephone interviews with a variety of US consumers.
Investors should pay attention to recent trends in consumer sentiment because it reflects consumers’ views on economic prospects of the country.
September preliminary data
The recent US consumer sentiment data reflects a positive trend, and earlier this year, it reached the highest level since February 2004. Interestingly, the index fell to 96.4 in July 2017 after posting a high of 98.5 in January this year.
September 2017 preliminary consumer sentiment data stood at 95.3 as compared to 91.2 in September 2016. However, this data reflected a drop from August 2017 consumer sentiment data of 96.8.
A lower Consumer Sentiment Index is considered negative for auto demand in the future, which could hurt auto investors’ sentiment going forward.
Legacy auto companies (FXD) including General Motors (GM), Ford (F), Toyota (TM), and Fiat Chrysler (FCAU) will release their September US auto sales data next week. Visit Market Realist’s autos page for ongoing updates on the auto industry.