THE BASIS POINT

Consumer Sentiment down but …

 

University of Michigan Consumer Sentiment (January 2013)

Sentiment Index 71.3. Previous was 80.5.

This is supposed to measure consumers’ predisposition to spend. The is a survey index and a preliminary one at that.  The sharp drop likely relates to fiscal cliff angst at year end and I would guess that we will see an upward revision in a coupe of weeks.

 

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