The University of Michigan’s preliminary August consumer sentiment index reading was 63.2, compared to the final July 66.0, and 70.8 in June, according to market sources.
Economists polled by Thomson Reuters had predicted a 68.5 reading for the index.
The expectations index was 62.1, compared to 63.2 final in July, 69.2 in June, and 69.4 in May.
The current conditions index was 64.9 in August, compared to 70.5 final last month, the 73.2 final in June, and 67.7 in May.
Economists polled by Thomson Reuters had predicted a 71.0 reading for the current conditions index and 68.5 for the expectations index.
The five-year inflation expectation index preliminary was 2.9% in August, compared to 3.0% final last month, 3.0% in June, and 2.9% in May, and the one-year inflation expectation index was 2.8% preliminary this month, compared to 2.9% final July reading, to 3.1% in June, and 2.8% in May.
The University of Michigan index is not released to the press, but only to paying subscribers.
