Consumer sentiment and consumer spending rise and fall together: Change in University of Michigan consumer sentiment and personal consumption expenditures relative to 10-year trends
| Date | U of M Consumer Sentiment | BEA PCE |
|---|---|---|
| Mar-1988 | 10.9862259 | 1.23% |
| Apr-1988 | 11.03526171 | 0.64% |
| May-1988 | 12.0030303 | 0.83% |
| Jun-1988 | 11.93333333 | 0.72% |
| Jul-1988 | 12.56088154 | 0.77% |
| Aug-1988 | 13.31680441 | 0.54% |
| Sep-1988 | 14.05316804 | 0.41% |
| Oct-1988 | 14.1553719 | 0.68% |
| Nov-1988 | 12.56115702 | 1.08% |
| Dec-1988 | 10.63911846 | 1.34% |
| Jan-1989 | 11.7338843 | 1.06% |
| Feb-1989 | 12.33553719 | 0.65% |
| Mar-1989 | 12.92754821 | 0.01% |
| Apr-1989 | 10.61019284 | -0.08% |
| May-1989 | 8.855647383 | -0.34% |
| Jun-1989 | 7.428650138 | -0.33% |
| Jul-1989 | 7.393112948 | -0.61% |
| Aug-1989 | 6.81184573 | -0.48% |
| Sep-1989 | 8.306336088 | -0.25% |
| Oct-1989 | 8.698071625 | -0.34% |
| Nov-1989 | 8.890909091 | -0.67% |
| Dec-1989 | 6.895041322 | -0.98% |
| Jan-1990 | 6.35261708 | -0.87% |
| Feb-1990 | 5.660881543 | -0.80% |
| Mar-1990 | 5.710192837 | -0.70% |
| Apr-1990 | 5.777961433 | -0.90% |
| May-1990 | 5.869972452 | -0.99% |
| Jun-1990 | 4.561707989 | -1.13% |
| Jul-1990 | 2.375206612 | -1.09% |
| Aug-1990 | -2.579063361 | -1.37% |
| Sep-1990 | -7.880991736 | -1.64% |
| Oct-1990 | -16.00798898 | -2.01% |
| Nov-1990 | -19.43801653 | -2.11% |
| Dec-1990 | -21.78870523 | -2.64% |
| Jan-1991 | -20.77272727 | -3.48% |
| Feb-1991 | -19.27878788 | -3.94% |
| Mar-1991 | -11.93966942 | -3.78% |
| Apr-1991 | -7.036363636 | -3.37% |
| May-1991 | -4.518732782 | -3.19% |
| Jun-1991 | -6.459779614 | -3.34% |
| Jul-1991 | -6.152341598 | -3.25% |
| Aug-1991 | -4.983746556 | -3.29% |
| Sep-1991 | -4.748484848 | -3.25% |
| Oct-1991 | -6.333884298 | -3.23% |
| Nov-1991 | -10.66088154 | -3.00% |
| Dec-1991 | -15.62093664 | -2.59% |
| Jan-1992 | -19.24214876 | -1.48% |
| Feb-1992 | -19.36060606 | -0.68% |
| Mar-1992 | -16.78953168 | -0.43% |
| Apr-1992 | -13.61818182 | -0.78% |
| May-1992 | -10.25730028 | -0.91% |
| Jun-1992 | -8.905785124 | -0.63% |
| Jul-1992 | -9.209090909 | -0.53% |
| Aug-1992 | -10.33746556 | -0.38% |
| Sep-1992 | -12.02506887 | -0.08% |
| Oct-1992 | -13.19366391 | 0.53% |
| Nov-1992 | -10.19889807 | 0.92% |
| Dec-1992 | -5.161432507 | 1.26% |
| Jan-1993 | 0.039118457 | 0.80% |
| Feb-1993 | 0.327823691 | 0.43% |
| Mar-1993 | -1.495867769 | -0.20% |
| Apr-1993 | -2.818181818 | -0.10% |
| May-1993 | -4.938292011 | -0.06% |
| Jun-1993 | -6.361432507 | 0.15% |
| Jul-1993 | -9.129476584 | 0.21% |
| Aug-1993 | -10.01239669 | 0.28% |
| Sep-1993 | -11.09201102 | 0.26% |
| Oct-1993 | -9.093663912 | 0.13% |
| Nov-1993 | -7.715702479 | 0.09% |
| Dec-1993 | -4.232231405 | 0.01% |
| Jan-1994 | -0.33553719 | 0.12% |
| Feb-1994 | 3.691184573 | 0.34% |
| Mar-1994 | 4.826170799 | 0.76% |
| Apr-1994 | 4.317906336 | 0.95% |
| May-1994 | 4.233057851 | 0.84% |
| Jun-1994 | 4.184297521 | 0.69% |
| Jul-1994 | 3.03030303 | 0.41% |
| Aug-1994 | 2.714049587 | 0.47% |
| Sep-1994 | 2.866391185 | 0.33% |
| Oct-1994 | 4.156749311 | 0.51% |
| Nov-1994 | 4.179889807 | 0.49% |
| Dec-1994 | 5.41707989 | 0.56% |
| Jan-1995 | 7.052066116 | 0.43% |
| Feb-1995 | 8.209917355 | 0.02% |
| Mar-1995 | 6.608815427 | -0.21% |
| Apr-1995 | 4.923966942 | -0.56% |
| May-1995 | 3.183195592 | -0.27% |
| Jun-1995 | 3.997245179 | -0.11% |
| Jul-1995 | 4.647107438 | 0.20% |
| Aug-1995 | 6.77768595 | 0.15% |
| Sep-1995 | 5.520385675 | 0.14% |
| Oct-1995 | 4.129201102 | -0.22% |
| Nov-1995 | 1.477961433 | -0.30% |
| Dec-1995 | 2.183471074 | -0.30% |
| Jan-1996 | 1.896418733 | -0.06% |
| Feb-1996 | 2.028374656 | 0.24% |
| Mar-1996 | 2.966666667 | 0.38% |
| Apr-1996 | 4.132231405 | 0.85% |
| May-1996 | 4.463636364 | 0.83% |
| Jun-1996 | 4.062258953 | 0.59% |
| Jul-1996 | 4.766942149 | 0.34% |
| Aug-1996 | 6.759504132 | 0.23% |
| Sep-1996 | 7.54600551 | 0.40% |
| Oct-1996 | 8.140495868 | 0.56% |
| Nov-1996 | 9.4184573 | 0.55% |
| Dec-1996 | 10.11404959 | 0.48% |
| Jan-1997 | 10.3661157 | 0.46% |
| Feb-1997 | 10.46914601 | 0.52% |
| Mar-1997 | 11.42699725 | 0.52% |
| Apr-1997 | 12.6785124 | 0.19% |
| May-1997 | 13.76033058 | -0.02% |
| Jun-1997 | 15.16556474 | -0.03% |
| Jul-1997 | 16.95702479 | 0.31% |
| Aug-1997 | 17.2476584 | 0.76% |
| Sep-1997 | 17.64325069 | 1.04% |
| Oct-1997 | 17.04876033 | 1.13% |
| Nov-1997 | 17.8677686 | 1.18% |
| Dec-1997 | 16.43305785 | 1.35% |
| Jan-1998 | 16.61019284 | 1.30% |
| Feb-1998 | 17.51597796 | 1.33% |
| Mar-1998 | 18.83305785 | 1.38% |
| Apr-1998 | 19.39917355 | 1.74% |
| May-1998 | 17.97713499 | 2.20% |
| Jun-1998 | 17.56639118 | 2.64% |
| Jul-1998 | 16.29889807 | 2.62% |
| Aug-1998 | 15.50991736 | 2.31% |
| Sep-1998 | 13.87438017 | 2.18% |
| Oct-1998 | 11.23415978 | 2.30% |
| Nov-1998 | 10.6338843 | 2.43% |
| Dec-1998 | 10.45592287 | 2.41% |
| Jan-1999 | 12.54517906 | 2.45% |
| Feb-1999 | 14.26336088 | 2.45% |
| Mar-1999 | 15.90716253 | 2.37% |
| Apr-1999 | 16.05564738 | 2.30% |
| May-1999 | 15.52341598 | 2.20% |
| Jun-1999 | 15.94049587 | 2.02% |
| Jul-1999 | 16.2768595 | 1.86% |
| Aug-1999 | 15.38760331 | 1.85% |
| Sep-1999 | 15.22892562 | 1.82% |
| Oct-1999 | 14.1922865 | 1.70% |
| Nov-1999 | 14.98677686 | 1.60% |
| Dec-1999 | 14.28980716 | 1.73% |
| Jan-2000 | 17.08732782 | 1.88% |
| Feb-2000 | 18.30440771 | 2.08% |
| Mar-2000 | 18.71294766 | 2.17% |
| Apr-2000 | 17.63140496 | 2.07% |
| May-2000 | 17.28732782 | 1.81% |
| Jun-2000 | 16.91487603 | 1.48% |
| Jul-2000 | 16.46997245 | 1.34% |
| Aug-2000 | 15.18539945 | 1.22% |
| Sep-2000 | 15.12727273 | 1.25% |
| Oct-2000 | 14.06666667 | 1.20% |
| Nov-2000 | 13.87162534 | 1.02% |
| Dec-2000 | 10.77107438 | 0.47% |
| Jan-2001 | 6.780991736 | 0.10% |
| Feb-2001 | 0.879063361 | -0.40% |
| Mar-2001 | -1.625068871 | -0.78% |
| Apr-2001 | -3.850688705 | -1.25% |
| May-2001 | -3.472176309 | -1.41% |
| Jun-2001 | -3.174931129 | -1.47% |
| Jul-2001 | -1.937465565 | -1.45% |
| Aug-2001 | -2.195592287 | -1.46% |
| Sep-2001 | -5.847107438 | -2.07% |
| Oct-2001 | -9.102754821 | -1.96% |
| Nov-2001 | -11.65013774 | -1.97% |
| Dec-2001 | -9.385674931 | -1.50% |
| Jan-2002 | -6.090358127 | -1.72% |
| Feb-2002 | -4.010192837 | -1.70% |
| Mar-2002 | -1.916528926 | -1.47% |
| Apr-2002 | -2.10137741 | -1.15% |
| May-2002 | -0.209917355 | -1.18% |
| Jun-2002 | -1.44738292 | -1.14% |
| Jul-2002 | -3.192561983 | -1.16% |
| Aug-2002 | -6.380440771 | -1.07% |
| Sep-2002 | -8.559504132 | -0.74% |
| Oct-2002 | -11.13112948 | -1.30% |
| Nov-2002 | -12.33581267 | -1.49% |
| Dec-2002 | -12.18347107 | -1.75% |
| Jan-2003 | -11.59366391 | -1.34% |
| Feb-2003 | -12.98126722 | -1.37% |
| Mar-2003 | -15.94022039 | -1.49% |
| Apr-2003 | -14.68980716 | -1.56% |
| May-2003 | -10.61652893 | -1.16% |
| Jun-2003 | -6.627272727 | -0.86% |
| Jul-2003 | -5.063636364 | -0.63% |
| Aug-2003 | -6.082644628 | -0.41% |
| Sep-2003 | -6.837741047 | -0.16% |
| Oct-2003 | -7.36584022 | 0.07% |
| Nov-2003 | -5.990358127 | 0.16% |
| Dec-2003 | -4.450964187 | -0.01% |
| Jan-2004 | 0.17768595 | 0.02% |
| Feb-2004 | 0.336363636 | 0.17% |
| Mar-2004 | 1.35261708 | 0.47% |
| Apr-2004 | -1.862258953 | 0.48% |
| May-2004 | -3.270247934 | 0.33% |
| Jun-2004 | -3.345454545 | -0.13% |
| Jul-2004 | -2.528374656 | -0.29% |
| Aug-2004 | -0.670247934 | -0.66% |
| Sep-2004 | -1.177961433 | -0.41% |
| Oct-2004 | -2.87107438 | -0.23% |
| Nov-2004 | -3.912121212 | -0.03% |
| Dec-2004 | -2.961432507 | 0.04% |
| Jan-2005 | -1.711294766 | -0.11% |
| Feb-2005 | -1.284573003 | -0.06% |
| Mar-2005 | -2.769146006 | -0.31% |
| Apr-2005 | -5.345454545 | -0.15% |
| May-2005 | -7.715977961 | -0.26% |
| Jun-2005 | -6.577134986 | 0.25% |
| Jul-2005 | -3.655922865 | 0.44% |
| Aug-2005 | -2.93553719 | 0.58% |
| Sep-2005 | -9.244903581 | -0.10% |
| Oct-2005 | -16.56997245 | -0.70% |
| Nov-2005 | -18.95261708 | -0.98% |
| Dec-2005 | -14.03085399 | -1.02% |
| Jan-2006 | -8.350137741 | -0.83% |
| Feb-2006 | -6.65261708 | -0.75% |
| Mar-2006 | -7.513774105 | -0.57% |
| Apr-2006 | -8.757024793 | -0.76% |
| May-2006 | -11.23663912 | -0.79% |
| Jun-2006 | -12.50275482 | -1.12% |
| Jul-2006 | -13.33168044 | -1.36% |
| Aug-2006 | -12.29641873 | -1.64% |
| Sep-2006 | -12.04628099 | -1.31% |
| Oct-2006 | -9.014325069 | -0.87% |
| Nov-2006 | -5.60523416 | -0.57% |
| Dec-2006 | -3.469421488 | -0.54% |
| Jan-2007 | -2.336639118 | -0.66% |
| Feb-2007 | -2.56584022 | -0.78% |
| Mar-2007 | -3.617906336 | -0.98% |
| Apr-2007 | -6.801101928 | -1.11% |
| May-2007 | -7.698347107 | -1.18% |
| Jun-2007 | -8.610743802 | -1.22% |
| Jul-2007 | -7.386501377 | -1.30% |
| Aug-2007 | -8.866391185 | -1.10% |
| Sep-2007 | -9.337741047 | -1.09% |
| Oct-2007 | -12.31212121 | -1.12% |
| Nov-2007 | -14.53719008 | -1.34% |
| Dec-2007 | -16.93278237 | -1.58% |
| Jan-2008 | -17.5322314 | -1.78% |
| Feb-2008 | -19.0476584 | -2.13% |
| Mar-2008 | -20.77107438 | -2.22% |
| Apr-2008 | -25.70550964 | -2.21% |
| May-2008 | -29.00385675 | -2.09% |
| Jun-2008 | -32.9768595 | -2.06% |
| Jul-2008 | -33.04848485 | -2.31% |
| Aug-2008 | -31.60523416 | -2.71% |
| Sep-2008 | -26.63939394 | -3.29% |
| Oct-2008 | -27.50991736 | -3.68% |
| Nov-2008 | -29.74738292 | -4.09% |
| Dec-2008 | -32.79476584 | -4.33% |
| Jan-2009 | -31.25316804 | -4.38% |
| Feb-2009 | -30.5630854 | -4.28% |
| Mar-2009 | -31.11707989 | -4.32% |
| Apr-2009 | -29.43415978 | -4.57% |
| May-2009 | -24.95013774 | -4.85% |
| Jun-2009 | -20.14022039 | -4.86% |
| Jul-2009 | -19.52837466 | -4.54% |
| Aug-2009 | -20.20440771 | -3.91% |
| Sep-2009 | -18.99421488 | -3.40% |
| Oct-2009 | -17.16363636 | -3.06% |
| Nov-2009 | -16.31212121 | -2.93% |
| Dec-2009 | -16.35041322 | -2.45% |
| Jan-2010 | -14.80413223 | -2.27% |
| Feb-2010 | -12.45068871 | -1.89% |
| Mar-2010 | -11.78898072 | -1.52% |
| Apr-2010 | -12.21652893 | -0.83% |
| May-2010 | -11.9184573 | -0.36% |
| Jun-2010 | -10.82865014 | -0.11% |
| Jul-2010 | -11.9953168 | -0.01% |
| Aug-2010 | -13.25151515 | -0.18% |
| Sep-2010 | -15.52892562 | -0.05% |
| Oct-2010 | -15.23829201 | 0.15% |
| Nov-2010 | -14.02865014 | 0.70% |
| Dec-2010 | -11.63553719 | 0.72% |
| Jan-2011 | -9.216804408 | 0.80% |
| Feb-2011 | -7.044903581 | 0.61% |
| Mar-2011 | -9.200550964 | 0.52% |
| Apr-2011 | -10.49641873 | 0.21% |
| May-2011 | -11.40082645 | -0.06% |
| Jun-2011 | -9.912396694 | -0.28% |
| Jul-2011 | -11.7707989 | -0.43% |
| Aug-2011 | -17.70055096 | -0.55% |
| Sep-2011 | -21.43195592 | -0.69% |
| Oct-2011 | -22.15179063 | -0.74% |
| Nov-2011 | -19.32011019 | -0.86% |
| Dec-2011 | -15.7046832 | -0.99% |
| Jan-2012 | -10.84242424 | -1.09% |
| Feb-2012 | -6.850413223 | -0.83% |
| Mar-2012 | -4.62369146 | -0.70% |
| Apr-2012 | -4.015151515 | -0.56% |
| May-2012 | -2.550964187 | -0.61% |
| Jun-2012 | -3.39476584 | -0.59% |
| Jul-2012 | -4.603030303 | -0.64% |
| Aug-2012 | -6.111019284 | -0.68% |
| Sep-2012 | -4.292011019 | -0.64% |
| Oct-2012 | -0.785399449 | -0.69% |
| Nov-2012 | 2.044077135 | -0.57% |
| Dec-2012 | 0.279063361 | -0.40% |
| Jan-2013 | -2.59338843 | -0.18% |
| Feb-2013 | -4.213498623 | -0.37% |
| Mar-2013 | -2.261157025 | -0.49% |
| Apr-2013 | -1.374380165 | -0.61% |
| May-2013 | 0.936639118 | -0.42% |
| Jun-2013 | 2.799449036 | -0.29% |
| Jul-2013 | 5.738292011 | -0.16% |
| Aug-2013 | 4.997245179 | -0.07% |
| Sep-2013 | 2.866666667 | 0.02% |
| Oct-2013 | -1.003305785 | 0.23% |
| Nov-2013 | -3.224242424 | 0.37% |
| Dec-2013 | -1.446831956 | 0.49% |
| Jan-2014 | 1.322038567 | 0.26% |
| Feb-2014 | 3.612121212 | 0.19% |
| Mar-2014 | 2.911019284 | 0.25% |
| Apr-2014 | 4.010743802 | 0.59% |
| May-2014 | 4.216528926 | 0.77% |
| Jun-2014 | 5.137190083 | 0.89% |
| Jul-2014 | 4.463636364 | 1.03% |
| Aug-2014 | 4.761983471 | 1.36% |
| Sep-2014 | 5.570247934 | 1.51% |
| Oct-2014 | 7.360606061 | 1.70% |
| Nov-2014 | 9.519834711 | 1.67% |
| Dec-2014 | 12.54573003 | 1.78% |
| Jan-2015 | 16.28209366 | 1.99% |
| Feb-2015 | 18.47741047 | 2.18% |
| Mar-2015 | 18.27796143 | 2.19% |
| Apr-2015 | 17.53884298 | 2.05% |
| May-2015 | 15.95785124 | 1.99% |
| Jun-2015 | 16.94848485 | 1.95% |
| Jul-2015 | 15.98953168 | 1.96% |
| Aug-2015 | 16.38484848 | 1.79% |
| Sep-2015 | 13.44407713 | 1.67% |
| Oct-2015 | 12.39256198 | 1.31% |
| Nov-2015 | 12.11460055 | 1.09% |
| Dec-2015 | 13.80110193 | 0.89% |
| Jan-2016 | 14.38898072 | 0.87% |
| Feb-2016 | 14.4892562 | 1.00% |
| Mar-2016 | 13.94132231 | 0.91% |
| Apr-2016 | 12.92782369 | 0.86% |
| May-2016 | 13.89559229 | 0.63% |
| Jun-2016 | 14.66887052 | 0.72% |
| Jul-2016 | 14.92837466 | 0.73% |
| Aug-2016 | 13.22727273 | 0.73% |
| Sep-2016 | 12.40716253 | 0.70% |
| Oct-2016 | 11.42947658 | 0.70% |
| Nov-2016 | 12.73195592 | 0.76% |
| Dec-2016 | 15.04297521 | 0.86% |
| Jan-2017 | 18.77355372 | 0.95% |
| Feb-2017 | 19.57300275 | 0.83% |
| Mar-2017 | 19.10716253 | 0.86% |
| Apr-2017 | 18.56969697 | 0.84% |
| May-2017 | 18.76969697 | 1.00% |
| Jun-2017 | 18.06666667 | 0.83% |
| Jul-2017 | 16.79834711 | 0.78% |
| Aug-2017 | 16.6399449 | 0.73% |
| Sep-2017 | 16.60110193 | 0.81% |
| Oct-2017 | 18.9369146 | 0.92% |
| Nov-2017 | 19.37520661 | 1.17% |
| Dec-2017 | 19.49118457 | 1.33% |
| Jan-2018 | 17.66584022 | 1.40% |
| Feb-2018 | 17.8969697 | 1.32% |
| Mar-2018 | 19.53168044 | 1.20% |
| Apr-2018 | 20.34132231 | 1.15% |
| May-2018 | 19.51212121 | 1.20% |
| Jun-2018 | 18.16143251 | 1.21% |
| Jul-2018 | 17.54380165 | 1.17% |
| Aug-2018 | 16.62727273 | 1.11% |
| Sep-2018 | 16.9476584 | 0.87% |
| Oct-2018 | 16.90440771 | 0.71% |
| Nov-2018 | 17.0476584 | 0.47% |
| Dec-2018 | 16.14132231 | -0.05% |
| Jan-2019 | 13.36060606 | -0.48% |
| Feb-2019 | 11.83333333 | -0.89% |
| Mar-2019 | 11.57520661 | -0.67% |
| Apr-2019 | 13.25950413 | -0.61% |
| May-2019 | 15.00413223 | -0.53% |
| Jun-2019 | 14.65013774 | -0.48% |
| Jul-2019 | 14.79669421 | -0.32% |
| Aug-2019 | 11.1738292 | -0.09% |
| Sep-2019 | 9.289807163 | 0.15% |
| Oct-2019 | 8.121212121 | 0.21% |
| Nov-2019 | 10.24600551 | 0.18% |
| Dec-2019 | 12.05867769 | 0.43% |
Note: For the change in the consumer sentiment index, we calculated the 10-year average level of the index and subtracted it from the current month’s level. For the change in the growth rate of real personal consumption expenditures, we calculated the 10-year average growth rate and then subtracted it from the current year-over-year growth rate.
Source: Data from the University of Michigan Survey of Consumers and Table 1.1.6 from the National Income and Products Accounts of the Bureau of Economic Analysis.