US Consumer Sentiment Revised Down in August


The University of Michigan's consumer sentiment for the United States came in at 89.8 in August 2016, compared to a preliminary reading of 90.4 and below 90 in July. It was the lowest reading since April, mainly due to less favorable current conditions while future expectations regarding the overall economy improved slightly, final figures showed. Meanwhile, long term inflation expectations fell to the lowest level ever recorded.

The gauge of current economic conditions came in at 107 compared to a preliminary of 106.1 and a final of 109 in July. The barometer of consumer expectations came in at 78.7 compared to a preliminary reading of 80.3 and a final of 77.8 in the previous month. 

Americans expect the inflation rate in the next year to be 2.5 percent, matching preliminary estimates but down from 2.7 percent in July. Over the next 5 years, they expect it will slow to 2.5 percent, the lowest level on record, compared to earlier estimate of 2.6 percent and from 2.6 percent in July.

US Consumer Sentiment Revised Down in August


University of Michigan | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/26/2016 3:24:02 PM