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According to Trading Economics, analysts, on average, forecasted a smaller rise to 66.9 points.
The index value stood at 69.4 points in August 2023.
This month, the sub-index measuring U.S. consumers' outlook on the current financial situation dropped to 60.9 points, marking its lowest level since December 2022, a decline from July's 62.7 points. The measure of consumer anticipation for the next half-year increased to 72.1 points from 68.8 points in the previous month.
In August, people's anticipated inflation rate for the upcoming year stayed constant at 2.9%, and the long-term inflation assessment (5 years) also maintained at 3%.
On August 30, the University of Michigan is set to release the July consumer confidence index's final figure.
source: tradingeconomics.com
The index value stood at 69.4 points in August 2023.
This month, the sub-index measuring U.S. consumers' outlook on the current financial situation dropped to 60.9 points, marking its lowest level since December 2022, a decline from July's 62.7 points. The measure of consumer anticipation for the next half-year increased to 72.1 points from 68.8 points in the previous month.
In August, people's anticipated inflation rate for the upcoming year stayed constant at 2.9%, and the long-term inflation assessment (5 years) also maintained at 3%.
On August 30, the University of Michigan is set to release the July consumer confidence index's final figure.
source: tradingeconomics.com