Consumer Confidence Slips Backward In August
Consumer confidence slipped backward from July to August, according to the Reuters/University of Michigan consumer sentiment survey, released moments ago.
The index -- a combination of how consumers are feeling about their situation right now and how they envision their situation six months down the road -- sat at 65.7 in August, a slight retreat from July's 66 reading.
It was a four-month low for the index. The read did, however, beat expectations, which forecast it to fall further.
The current-condition consumer sentiment index fell from 70.5 in July to 66.6 in August.
However, the consumer-expectation index -- a gauge of how confident buyers feel about making a big purchase in the next six months -- rose from 63.2 in July to 65 in August, underscoring the optimistic nature of Americans.
-- Frank Ahrens
Sign up to get The Ticker on Twitter
August 28, 2009; 9:56 AM ET
Categories: The Ticker | Tags: consumer confidence
Save & Share: Previous: Tech Stocks Lead Markets Higher at Open
Next: Cash for Clunkers Was Fun While It Lasted, But Here Comes the 'Hangover'
Posted by: Yeat2009 | August 28, 2009 11:34 AM | Report abuse
Posted by: steveb777 | August 28, 2009 12:41 PM | Report abuse
Posted by: steveb777 | August 28, 2009 12:44 PM | Report abuse
The comments to this entry are closed.