Consumer Confidence Beats Expectations

The final reading of University of Michigan’s August consumer confidence report are out.

The headline index climbed to 82.1.

This beat expectations for a modest uptick to 80.5, and is up from the initial print of 80.

But the August consumer confidence report is still down from its six-year high of 85.1 in July.

The sub-index for economic conditions climbed to 95.2 from a preliminary reading of 91. But was down from 98.6 in July.

Meanwhile the sub-index of economic conditions climbed to 73,7, from an initial reading of 72.9. But this was down from a reading of 76.5 in July as well.

Inflation expectations also declined in the August report.

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