Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment was revised up slightly to 72.3 from July’s initial reading of 72.0. This is a 0.9 point drop from June’s index level of 73.2, and still 7.0 points lower than a recent high in May of 79.3. The current conditions component was revised down slightly from 83.2 to 82.7, which marks a 1.2 point improvement over June. Meanwhile, the consumer expectations component was revised up from 64.8 to 65.6, a drop of 2.2 points from the previous month. Median short-run (one-year ahead) inflation expectations were revised up to 3.0 percent from 2.8 percent earlier in the month, while longer-term (five-years ahead) inflation expectations were revised down slightly from 2.8 percent to 2.7 percent.