Economic Buzz: US Consumer Sentiment Improves In August

29 Aug 2022 , 08:47 AM

The consumer sentiment in the US improved by much more than previously estimated in the month of August, as per the data released by University of Michigan. The report showed the consumer sentiment index for August was upwardly revised to 58.2 from the previously reported 55.1. With the much bigger than expected upward revision, the consumer sentiment index is well above the final July reading of 51.5. The revision to headline index came as the index of consumer expectations was upwardly revised to 58.0 from 54.9, while the current economic conditions index was upwardly revised to 58.6 from 55.5. The one-year inflation expectations were revised to 4.8 percent and that of five year was revised to 2.9 percent.Powered by Commodity Insights