Monetary Policy Report submitted to the Congress on February 27, 2008, pursuant to section 2B of the Federal Reserve Act
Figure of consumer sentiment, 1994-2008. Data are plotted as two curves and are expressed as indexes (for the Conference Board data, 1985 = 100; for the Reuters/Michigan data, 1966 = 100). Both curves start at about 90 in 1994 and generally increase, with moderate fluctuations, until early 2000, when the Conference Board curve reaches about 145 and the Reuters/Michigan curve reaches about 110. In late 2000, both curves begin a sharp decline, which generally continues through late 2001, when the Conference Board curve reaches about 85 and the Reuters/Michigan curve about 83. Both curves then generally decline, with moderate fluctuations, until early 2003, when the Conference Board curve temporarily reaches about 60, its lowest point, and the Reuters/Michigan curve reaches about 80. From mid-2003 through 2006, each curve fluctuates moderately within a range of about 80 to 110 (for the Conference Board) or a range of about 75 to 95 (for Reuters/Michigan). From mid-2007 through early 2008, the curves decline sharply; at the start of 2008, each curve is at a value below 80.
Note: The Conference Board data are monthly and extend through February 2008. The Reuters/Michigan data are monthly and extend through a preliminary estimate for February 2008.
Source: The Conference Board and Reuters/University of Michigan Surveys of Consumers.