Ann Arbor, MI, August 27 -- Confidence among U.S. consumers dropped during August, the first decline in three months, according to a closely followed survey released today.
The University of Michigan's final index of consumer sentiment dropped to 95.9 this month from 96.7 in July. A preliminary report Aug. 13 gave a reading of 94.
Economists expected the overall index to fall to 94, according to the median of 52 estimates in a Bloomberg News survey. Forecasts ranged from 89 to 95. The final index is based on a telephone survey of about 500 households. The preliminary reading was based on half as many responses.
