- Consumer confidence in the US improved slightly in early August.
- UoM survey showed one-year inflation expectation held steady at 2.9%.
In early August, consumer confidence in the US saw a modest uptick, as the University of Michigan’s Consumer Sentiment Index rose to 67.8 from 66.4 in July, surpassing market expectations of 66.9.
While the Current Conditions Index dipped to 60.9 from 62.7, the Consumer Expectations Index climbed to 72.1 from 68.8.
The survey revealed that the one-year inflation expectation remained at 2.9%, with the five-year outlook staying at 3%.
Market Reaction and Analysis
Despite the positive consumer sentiment data, the US Dollar Index did not show a significant reaction, ending the day down 0.3% at 102.75.
Overall, the slight improvement in consumer confidence could indicate a potential boost in consumer spending, which may positively impact various sectors of the economy and potentially lead to increased investment opportunities. Keep an eye on market trends and consumer behavior for potential investment decisions.