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Final University of Michigan Consumer Sentiment Report Edges Higher in August |
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US Economy |
Written by CEP News |
Aug 29 08 15:03 GMT |
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(CEP News) - The final consumer sentiment survey from Reuters and the University of Michigan received a small upward revision from preliminary estimates in August, with the headline indicator coming in at 63 compared to the preliminary 61.7 level.
Economists had expected a small upward revision to 62.0. Consumer expectations were revised to 57.9 from the preliminary 56.8 level, while the economic conditions index bumped up to 71 from the initial estimate of 69.3 for August. One-year inflation expectations remained unchanged at 4.8% from the preliminary reading. Five-year inflation expectations also remained unchanged at 3.2% after hitting a cyclical peak of 3.4% in both May and June. By Steve Stecyk,
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, edited by Sarah Sussman,
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