US Consumers Sour on Economy as Inflation Concerns Remain in Focus, UMich Survey Says

3-line summary

• The University of Michigan's preliminary Index of Consumer Sentiment fell to 51 in August from July's 55.2 reading, coming in markedly below economists' expectations of 55 and ending two consecutive months of improvement.
• The current conditions index printed at 51.8 versus an estimate of 54.8, while the expectations index came in at 50.6 versus an estimated 55.2; year-ahead inflation expectations rose to 4.3% from July's 4.2%.

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