Consumer Sentiment Beats Estimates, but Remains at Lowest Level since January
September 5, 2018
The University of Michigan’s monthly survey of consumers came in at 96.2, down from July’s 97.9. Economists expected a steeper drop to 95.5.
August’s reading continues the index’s slump since March, when it peaked at 101.4, the highest reading since 2004. The index is down slightly from the same month last year.
The index is based on a survey of 500 consumers, gauging their outlook on economic prospects such as personal finances, interest rates, unemployment and inflation.