Consumer sentiment below expectations in preliminary August read
The University of Michigan's preliminary August consumer sentiment index reading was 95.3, compared to the final July 97.9, and the preliminary July 97.1, according to market sources.
The expectations index was 87.3 compared to the final July 87.3, and the preliminary July 86.4.
The current conditions index was 107.8, compared to the final July 114.4, and the preliminary July 113.9.
Economists polled by IFR Markets had predicted a 98.0 reading for the main index.
The five-year inflation expectation index was 2.5%, compared to 2.4% in July, while the one-year inflation expectation index was 2.9%, compared to 2.9% in July.
The University of Michigan index is not released to the press, but only to paying subscribers.