Washington, DC, August 13--Consumer sentiment worsened slightly in early August, according to media reports of the University of Michigan's consumer sentiment survey.
The index fell to 94.0 from July's 96.7, the reports said.
Economists were expecting a relatively flat reading at 96.4, according to a survey conducted by CBS MarketWatch.
The expectations index sank to 84.7 from 91.2 after two months of gains. "This may be in reaction to some of the weaker than expected payroll data," said economists at Action Economics. The current conditions index improved to 108.4 from 105.2. It's the highest since January. According to various surveys, consumer confidence seemed to improve in June and July, only to falter in early August
The daily confidence index tracked by pollster Scott Rasmussen fell to a two-month low this week, while the weekly index released by ABC News and Money Magazine dipped in the last week after two months of gains
The Universint of Michigan index will be updated in two weeks to reflect surveys returned throughout August.
