Ann Arbor MI, August 26—-The University of Michigan's index of consumer sentiment declined to 89.1 from July's 96.5, the first drop since May. A preliminary estimate of the survey on Aug. 12 put the index at 92.7.
Economist had forecast a reading of 92.8.
The current conditions index, fell to 108.2 in August from 113.5 in July. The expectations index, based on optimism about the next one to five years, was 76.9 after 85.5 last month.
