U.S. consumer sentiment index down to ‘.9 in August
Nathan Andrada – Fourth Estate Contributor
Washington, DC, United States (4E) – Consumer sentiment in the U.S. fell by larger than projected in the month of August, according to a report showed Friday.
For the month of August, the final reading on the consumer sentiment index stood at ‘.9. The index score compared to the preliminary reading of ‘.9 and July’s reading of “.1.
The downwardly revised reading surprised economists, who had projected the index to be upwardly revised to “.0.
Friday’s report showed that the current economic conditions index was downwardly revised to 105.1 from 107.1 in August, compared to July’s downward revision to 107.2.
The gauge of consumer expectations also saw a downward revision to 83.4 from 83.8 and is lower than the prior month’s 84.1 reading.
The index for one-year inflation expectations remained firm at 2.8 percent, while five-to-ten-year inflation expectations fell to 2.7 percent, down by a tenth of a percentage point.