Preliminary readings from the University of Michigan consumer sentiment survey, the Conference Board consumer confidence survey, and the weekly Bloomberg Consumer confidence survey indicate consumers' perception of the current economic situation has deteriorated slightly in recent weeks.
All three measures remain below their prerecession levels but have improved significantly since the summer of 2011.
Additional detail:
- The present conditions components of the Conference Board and Reuters/University of Michigan survey utilize notably different survey questions. The Conference Board's Present Situation Index is based on consumer's perception of local business conditions and local availability of jobs. The Reuters/University of Michigan Current conditions asks about attitude towards big-ticket purchases and if personal finances have improved over the past year. The Bloomberg consumer comfort survey is somewhat of a hybrid, probing consumers about their perception of the current state of the national economy, their personal finances, and the buying climate.