CONSUMER CONFIDENCE UNEXPECTEDLY PLUNGES IN AUGUST

University of michigan basketballGetty Images / Kevin C. CoxA lone fan of the Michigan Wolverines sits dejected.

T
he preliminary results from the University of Michigan’s August consumer confidence survey are out.
The headline index of confidence fell to 80.0 in August from July’s 85.1 reading. Economists had predicted a tick up to 85.2.

The sub-index of economic conditions fell to 91.0 from 98.6.

The economic outlook sub-index fell to 72.9 from 76.5.

Inflation expectations one year ahead were unchanged from July at 3.1%.

Inflation expectations five years ahead were unchanged at 2.8%.

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