Consumer Sentiment Falls from Six-Year High
Ann Arbor, MI, Aug. 16, 2013 -- Consumer sentiment in August declined from last month's six-year high, according to the Thomson Reuters/University of Michigan index.
August's preliminary reading was 80.0, down from 85.1 in July. Economists were expecting a reading of 85.5.
The current economic conditions category showed the biggest decline. However, the overall decline was not big enough to suggest that the economic expansion will stall, survey director Richard Curtin said in a press release.
"Perhaps the most important recent changes have been the increase in home values as well as the jump in the numbers that expect interest rate increases during the year ahead," Curtain said.