Consumer sentiment is an economic indicator that measures consumers' outlook on the economy and their personal finances. While many consumer confidence measures exist, most are released monthly or bi-weekly. In order to measure this economic indicator more frequently, Delphia has developed a daily measure of consumer sentiment.
This measure is derived from responses to the Delphia Consumer Survey, which includes questions asked in the Survey of Consumers that has been run monthly by the University of Michigan since 1946. Our survey is sent out daily to a panel of respondents in the United States. Every week, our survey is completed by a sample of individuals that is representative of the overall population of the US, with 100 responses collected each day. As in the work by the University of Michigan, we ask several questions about respondents' finances and sentiment towards the economy and making large purchases.
In order to compute our daily measure of consumer sentiment, we follow the methodology outlined by the University of Michigan. We compute a weekly moving average in order to create a more stable measure.