The University of Michigan Consumer Sentiment Index (MCSI) measures the overall attitude of consumers toward the economy and their personal financial situation. Based on a monthly phone survey of over 500 U.S. households, it asks respondents to evaluate current conditions and their expectations for the future. The index is benchmarked to 100 at 1966 Q1. Values above 100 indicate above-average optimism; values below 100 reflect below-average confidence. Historically, sharp declines in sentiment have preceded or coincided with recessions, making it a closely watched leading indicator. The current read of ~56 represents historically subdued consumer confidence. Data sourced from FRED (Federal Reserve Bank of St. Louis), series UMCSENT.