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Notizie economiche
30.08.2024

U.S. consumer sentiment improves slightly more than initially estimated in July

The final reading for the August Reuters/Michigan index of consumer sentiment came in at 67.9 compared to the flash reading of 67.8 and the July final reading of 66.4. This represented the first increase in the indicator in five months.

Economists had expected the indicator to be revised to 68.0.

The details of the latest Surveys of Consumers of the University of Michigan revealed that the index of current economic conditions fell by 2.2 per cent m-o-m to 61.3 this month, while the index of consumer expectations surged by 4.8 per cent m-o-m to 72.1.

The report also revealed that the year-ahead inflation expectations slipped from 2.9 per cent in July to 2.8 per cent in August, compared to the preliminary reading of 2.9 per cent. This marked the lowest reading since December 2020 (2.5 per cent). 

Meanwhile, the 5-year inflation expectations remained unchanged at 3.0 per cent for the fifth straight month, matching the preliminary estimates of 3.0 per cent.

Commenting on the latest results, Joanne Hsu, Surveys of Consumers Director, noted that consumers’ short- and long-run economic outlook improved, with both figures reaching their most favourable levels since April 2024 and a particularly sizable 10% improvement for long-run expectations that was seen across age and income groups.

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