Consumer Sentiment Index in the United States dipped 2.9% on a monthly basis to 69.5 points in August, according to the final report published by the University of Michigan on Friday. On an annual basis, the figure surged by 19.4%.
The Current Economic Conditions Index fell by 1.2% month-on-month while surging by 29.2% compared to August 2022. The Index of Consumer Expectations went down by 4.1% compared to July. The index, however, climbed 12.3% on an annual basis.
"Consumers perceive that the rapid improvements in the economy from the past three months have moderated, particularly with inflation, and they are tentative about the outlook ahead," the University of Michigan noted.
