Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan's Index of Consumer Sentiment was revised down slightly in August--from an index value of 69.6 to 68.9--according to the final report. While this is an improvement from a dip down to 67.8 in July, it is still close to the lows seen during the middle of last year. A large part of the floundering in the overall index has been the lack of a rebound in the consumer expectations component--which stands at 62.9 currently after a brief foray near 70, remaining stubbornly near levels from the last April (63.1). One year-ahead average inflation expectations were revised down from 3.4 percent to 3.2 percent during the revision in August, leaving expectations 0.1 percentage points below July's reading. Longer-term (5-10 year-ahead) expectations were also nudged down during late August, from 3.3 percent to 3.1 percent, compared to 3.4 percent in July.