US Consumer Sentiment Falls to 51 in August as Inflation Worries Deepen
Updated
Updated · Bloomberg · Aug 14
US Consumer Sentiment Falls to 51 in August as Inflation Worries Deepen
3 articles · Updated · Bloomberg · Aug 14
Summary
The University of Michigan’s preliminary August sentiment index fell to 51 from 55.2 in July, the first decline in three months and below economists’ 55 median forecast.
Households reported growing concern about worsening business conditions and rising inflation, the main forces behind the drop in confidence.
Related August survey details showed current conditions at 51.8 and expectations at 50.6, while one-year inflation expectations edged up to 4.3% from 4.2%.
The setback interrupts two months of improving sentiment and adds to signs that inflation and broader uncertainty are still weighing on US consumers.