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Monday, September 25, 2023
HomeNewsEconomyPreliminary Consumer Sentiment for August Points to Lowest Level for 2019

Preliminary Consumer Sentiment for August Points to Lowest Level for 2019

People count money at Macy's Herald Square store during the early opening of the Black Friday sales in the Manhattan borough of New York, November 26, 2015. (Photo: Reuters)

The Survey of Consumers preliminary reading on consumer sentiment fell to 92.1, the lowest level for the year.

Survey of ConsumersAugust (p)ConsensusJuly (f)August 2018M/M ∆Y/Y ∆
Index of Consumer Sentiment92.197.598.496.2-6.4%-4.3%
Current Economic Conditions107.4110.7110.3-3.0%-2.6%
Index of Consumer Expectations82.390.587.1-9.1%-5.5%

(p): Preliminary Reading (f): Final Reading

“The main takeaway for consumers from the first cut in interest rates in a decade was to increase apprehensions about a possible recession,” Richard Curtain, Chief Economist for the Survey of Consumers said. “Consumers concluded, following the Fed’s lead, that they may need to reduce spending in anticipation of a potential recession.”

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Staff Writing Group

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