Consumer Sentiment
Why Use This Data Source In Your Models?
Consumer sentiment is an economic indicator that measures how optimistic consumers feel about their finances and the state of the US economy, indicating individual's feelings toward his or her current financial health, the health of the economy in the short-term and the prospects for longer-term economic growth. This is used to predict consumer behavior.
Consumer Sentiment
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Automated Data Profiling
Suggested Treatment:
Grain Transformation:
Source:
University of Michigan
Release:
Consumer Sentiment
Units:
Index 1966Q1=100, Not Seasonally Adjusted
Frequency:
Monthly
Available Through:
11/30/2024
Suggested Treatment:
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Yeo Johnson variable will also perform well.
Grain Transformation:
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Auto Correlation Analysis:
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
Trend Analysis:
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.57 p-value = 0.01 indicates that the data is not stationary.
Distribution Analysis:
The Shapiro-Wilk test returned W = 0.93 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of -0.75 indicates the data are moderately skewed.
Hartigan's dip test score of 0.03 with a p-value of 0.60 inidcates the data is unimodal
Statistics (Pearson P/ df, lower => more normal)
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal Impact
Seasonal and Trend Decompostion
Citation:
University of Michigan, University of Michigan: Consumer Sentiment [UMCSENT], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/UMCSENT, December 15, 2019.
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