![Consumer sentiment: a lagging indicator](/.imaging/mte/efg-revamp/547x300/dam/efg/insights/MFN/10-September-2020/MFN_GDP_364x508px.jpg/jcr:content/MFN_GDP_364x508px.jpg)
Consumer sentiment: a lagging indicator
The most recent release of the University of Michigan’s consumer sentiment survey data saw the headline number dip slightly, comprised of an increase in the Current component to the highest since October 2021 offset by a marginal decline in the Expected component. Nonetheless, the headline number remains in an upward trend, having bottomed in June last year. The strength of the number is sometimes cited as a reason to be optimistic about the outlook for consumption and, by association, US equities. However, what do the statistics tell us about the relationships between consumer sentiment survey data, equity market performance and measures of personal consumption? Daniel Murray explores these relationships in this Macro Flash Note.