Ann Arbor, Mich. (PPD) — The Survey of Consumers final reading on consumer sentiment ticked higher from 72.5 in July to 74.1 in August, beating forecasts and the preliminary reading. Consumers are more pessimistic about the 5-year outlook and more optimistic about buying conditions.
Forecasts for the headline index ranged from a low of 71.0 to a high of 73.0, and the consensus forecast was 72.8.
The Current Economic Conditions Index ticked up slightly 0.1 from 82.9 in August, up from 82.5 in the preliminary reading. The Expectations Index was 65.9 in July — tied with the six-year low recorded in May — but rose to 68.5 in the final reading. That’s up from the 66.5 preliminary reading.