Consumer Sentiment decreased for second month in row

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Friday, Aug 14 2015

Confidence among U.S. consumers eased for a second month in August as households braced for an increase in interest rates that could slow growth.The University of Michigan’s preliminary index of sentiment decreased to 92.9 from 93.1 in July, figures showed Friday. Incline to 93.5 was forecasted. Concern about the economy was counterbalanced by the most optimistic views on wages in 15 years.

Americans’ spirits have been boosted as gasoline prices retreat and companies continue to increase headcounts and limit dismissals. The global financial turmoil caused by China’s recent currency devaluation have yet to effect sentiment, heightening the focus on future reports. “Given the increase in uncertainty, its potential impact on consumer sentiment must be carefully monitored,” Richard Curtin, director of the Michigan Survey of Consumers, said in a statement. “The declines in prospects for the economy probably reflect the expected increases in interest rates.”

After the data USD edged lower.Euro is currently being traded around 1.1150 area, Sterling is few points above 1.5640 level, while Aussie is near 0.74 handle.

More in this category: « US PPI up by 0.2% in July USD - Major events in the week ahead »

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