Friday, August 30, 2013

Consumer Confidence Slips Slightly in August

Consumer confidence fell marginally in August, according to the University of Michigan’s Consumer Sentiment index. Both present conditions and future expectations were lower relative to July. In August the index slipped to 82.1, a decline of 3 points from July. Despite the fall the idex remains near recovery highs.

The present condition portion of the index fell to 95.2, a decline of 3.4 points from July. Future expectation declined to 73.7, a drop of 2.8 points.

Inflationary expectation fell slightly, with the 1-year exception decreasing 0.1 percentage point to 3.0% in August. However, the 5-year expectation rose slightly higher to 2.9% in August, a 0.1 percentage point increase.

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