Previous : 70.5
Forecast : 70.0

Definition :
Michigan consumer sentiments index a survey of consumer confidence conducted by the University of Michigan. The preliminary report is released on the tenth (except on weekends) of each month. A final report for the prior month is released on the first of the month.

The index is becoming more and more useful for investors. It gives a snapshot of whether or not consumers feel like spending money in the economy.

Why is it useful?
Michigan Consumer sentiment index influence the currencies market significantly, so the improvement which appears on any of this index components will create an increase in production quantity, then achieve economic growth levels that any country is looking forward to reach its target is to enhance and strengthening the local currency .

The effect of this index on the stock market has the same level of importance, and influences the market significantly and considerably especially the industrial sector, because of the large improvements that take place on its production capacity.