The University of Michigan’s preliminary August consumer sentiment index reading was 54.9, compared to the final July 63.7, preliminary July 63.8, and the final June 71.5, according to market sources.

The expectations index was 45.7, compared to 56.0 in July, 55.8 earlier in July, and 64.8 in June.

The current conditions index was 69.3, compared to 75.8 in July, 76.3 earlier in July, and 82.0 in June.

Economists polled by Thomson Reuters had predicted a 63.0 reading for the main index, 74.5 for current conditions, and 55.0 for expectations.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.