University of Michigan Consumer Sentiment Index Final Reading for August Comes in Above Preliminary Estimate

The University of Michigan's final reading for the consumer sentiment index in August reached 51.7%, slightly exceeding the consensus estimate of 51% and the preliminary data of 51%. This figure, however, is a decline from July's final metric of 55.2%, with both current economic conditions and consumer expectations sub-indexes falling. The 1-year inflation index also decreased to 4% in August from 4.2% in July.