Japan’s manufacturers’ sentiment fell to a 7-month low in November Reuters Tankan survey showed. On the other hand the non-manufacturers index rose to +1, a 3-month high from -1 in October.
The preliminary August reading for the University of Michigan Index of Consumer Sentiment fell to 70.20 (consensus 81.20) from the final reading of 81.20 for July. This is the lowest reading since 2011, Lower than pandemic lows, as consumers’ inflation expectations rose.
Australia’s consumer confidence dropped 3.5% last week, as Sydney, Victoria and South Australia remained under a lockdown says ANZ Roy Morgan. Sentiment around current economic conditions dropped 6%.
The preliminary July reading for the University of Michigan Index of Consumer Sentiment fell to 80.8 (consensus 86.3) from the final reading of 85.5 for June. This is the lowest reading since February as consumer sentiment declined as consumers’ inflation expectations rose.
The University of Michigan’s consumer sentiment preliminary estimate came in at 86.5 the highest reading since March 2020 but lower than expected 89.0. One year inflation expectations are at the highest since 2012 3.7% vs 3.3% expected (3.1% prior)
The IBD/TIPP Economic Optimism Index rose to a new high since February 2020 before the Covid-19 shutdown in April. The index rose 1.8% to 56.4 in April of 2021. The six-month outlook for the US economy jumped 5.1 percent to 55.9.
The monthly Reuters Tankan survey indicates Japanese manufacturer’s sentiment falling the lowest since October 2016 in March with the sentiment index at +10 from February’s +13. This was the fifth consecutive monthly fall for the sentiment index.
The monthly Reuters tankan survey indicates Japanese manufacturer’s sentiment falling to a 2 year low in January with the sentiment index at +18 from December’s +23. This was third consecutive monthly fall for the manufacturers’ sentiment index to a 2 year low.
It was a fail with key inflation, retail sales ans consumer sentiment all missing consensus expectations. The only bright spot was industrial production and capacity utilization.