This is the next video in a series on economic reports created for all markets, or for those who simply have an interest in economics. In this lesson we cover The University of Michigan's Index of Consumer Sentiment.
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University of Michigan Consumer Confidence Index is the survey of consumers' confidence in the current economic situation. The survey is conducted by the University of Michigan USA. It analyzes the desire of consumers to spend their money. The index is a leading indicator of consumer sentiment.
It has a limited impact on the market. Growth of the index leads to the growth of the dollar.
- Release Frequency: twice a month.
- Release Schedule: 10:00 EST, the second week of the month (preliminary) and in two weeks (final).
- Source: University of Michigan.
- Measures: Level of a composite index based on surveyed consumers
- For Traders: Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity
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