Briefing.com: Mich Sentiment

Updated: 18-Aug-17 10:32 ET

August Mich Sentiment

Updated: 18-Aug-17 10:32 ET

Highlights

The Preliminary reading of the University of Michigan consumer sentiment for August increased to 97.6 from July's final reading of 93.4.

Key Factors

The Current Economic Conditions Index declined from 113.4 in July to 111.0 in August.
The Index of Consumer Expectations rose from 80.5 in July to 89.0 in August, approaching its January 2017 peak of 90.3.
The report noted that too few interviews were conducted after the events in Charlottesville, suggesting an increased likelihood of a pullback in the Expectations index when the final August report is released.
Data captured in the report indicate an annual gain of 2.4% in personal consumption expenditures, unchanged from the final July report.

Big Picture

The August increase was fueled by a rebound in the Expectations Index, which returned to levels from the start of 2017