Consumer Sentiment Rose 2.3% in August

Ann Arbor, MI, August 30, 2024-Consumer sentiment rose 2.3% in August to 67.9, according to final results from the University of Michigan Survey of Consumers.

This represents a 2.2% decline year over year.

“Consumer sentiment confirmed its early-month reading; after drifting down for four months, sentiment inched up 1.5 index points above July and is currently 36% above the all-time historic low from June 2022,” says Survey of Consumers director Joanne Hsu. “Consumers’ short- and long-run economic outlook improved, with both figures reaching their most favorable levels since April 2024 and a particularly sizable 10% improvement for long-run expectations that was seen across age and income groups.”