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Wednesday, April 24, 2024
HomeNewsEconomyFinal Consumer Sentiment Reading for August Ticks Higher, Beating Forecasts

Final Consumer Sentiment Reading for August Ticks Higher, Beating Forecasts

A young woman consumer wearing a disposable medical mask while shopping at the supermarket during the Chinese Coronavirus (COVID-19) outbreak. (Photo: AdobeStock)

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.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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