Friday, August 26, 2011

Consumer Sentiment Falls in August

Consumer confidence fell in August, according to the Reuters/University of Michigan consumer sentiment index.

The consumer sentiment index fell from 63.7 in July to 55.7 in August, although it was higher than the preliminary August reading of 54.9.

The index has only been lower in three other surveys, which were taken in April and May 1980 and November 2008.

The survey's barometer of current economic conditions was 68.7, down from 75.8 in July. The outlook also worsened, with the gauge of consumer expectations falling to 47.4 from July's final reading of 56.0.

Read the release.

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