In August, the University of Michigan Consumer Sentiment Index rose 1.8 points to 69.6. This moderate improvement follows a large decline in July of 8.2 points. Confidence levels seem to have stabilized for the moment, but still remain very low. The improvement in July was evenly due to both of the major components of the index. Both the current conditions component and the future expectations component rose 1.8 points.
Changes in inflationary expectations were mixed. The one-year outlook rose to 2.8 percent from 2.7 percent in June. The five-year outlook fell to 2.7 percent from 2.9 percent.
10.08.13 (Source: University of Michigan)