ANN ARBOR, Michigan – The University of Michigan has updated its August consumer confidence rate for the United States
Two weeks ago, he announced that consumer sentiment rose to 55.1 in August from 51.5 in July. The recent revision shows consumer sentiment at 58.2 in August.
The expectations gauge was revised up from 47.3 to 58 and the current conditions sub-index was revised up from 58.1 to 58.6.
Inflation expectations for the coming year moderated to 4.8% from 5.2% the previous month, its lowest level in eight months; meanwhile, the five-year outlook remained unchanged at 2.9%, compared to 3% in the forward figures.
The University of Michigan Consumer Expectations Index focuses on three areas: how consumers perceive the outlook for their own financial situation, how they perceive the general outlook for the economy in the near term, and for the general economy long-term. The survey conducts a minimum of 500 telephone interviews for the survey each month.
Vicky Jarrett has worked with various furniture industry publications – including Furniture Today, Retail Ideas, Our State magazine and Casual Living – for over 20 years and joined Furniture Today as Editor-in-Chief in 2016.