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US Consumer Sentiment dipped to 89.8

Friday, Aug 26 2016

Consumer sentiment eased in August as Americans’ views of their personal finances darkened, although that was offset by better views of the economic outlook. The University of Michigan’s final August reading slipped to 89.8 from 90.0 in July. The index is 2.3% lower than a year ago. Economists surveyed by MarketWatch had forecast a reading of 91.0.

The current economic conditions sub-gauge fell 2 points to 107.0, but stands higher than the 105.1 reading a year ago. The index of consumer expectations rose to 78.7 from 77.8, but is lower than the 83.4 notched in August 2015. Consumers ‘increasingly expect” Hillary Clinton to win the presidency, Michigan noted in a release, but “remained nearly equally split on which candidate would actually improve overall economic conditions or their own personal finances.” Long-term inflation expectations fell to the lowest level on record in August.

Euro is currently being traded around 1.13 area, Sterling is at 1.3220 level, while Aussieis at 0.7650 handle.

More in this category: « UK GDP grew by 0.6% in Q2 US GDP up by 1.1% »

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