University of Michigan consumer sentiment Preliminary for August 58.6 vs 62.0 est ...Middle East

Prior month 61.7Consumer sentiment 58.6 vs 62.0 estCurrent conditions 60.9 vs 67.9 est. Last month 68.0Expectations 57.2 vs 56.5 est. Last month 57.71 year inflation 4.9% vs 4.5% last month5 year inflation 3.9% vs 3.4% last month

From Joanne Hsu from the Univ. of Michigan

Consumer sentiment fell back about 5% in August, declining for the first time in four months. This deterioration largely stems from rising worries about inflation. Buying conditions for durables plunged 14%, its lowest reading in a year, on the basis of high prices. Current personal finances declined modestly amid growing concerns about purchasing power. In contrast, expected personal finances inched up a touch along with a slight firming in income expectations, which remain subdued. Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April when reciprocal tariffs were announced and then paused. However, consumers continue to expect both inflation and unemployment to deteriorate in the future.Year-ahead inflation expectations rose from 4.5% last month to 4.9% this month. This increase was seen across multiple demographic groups and all three political affiliations. Long-run inflation expectations also lifted from 3.4% in July to 3.9% in August. This month ended two consecutive months of receding inflation for short-run expectations and three straight months for long-run expectations. Still, both readings remain well below the highs seen briefly in April and May 2025 This article was written by Greg Michalowski at investinglive.com.

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