Index falls below last year’s low when the pandemic first hit.
Consumer sentiment fell in August by 13.4% from July after respondents reported the least favorable economic prospects in more than a decade, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index fell to 70.3 in August 2021, sharply below the 81.2 in July, and just below the low of 71.8 set during the economic shutdown in April 2020. The Expectations Index component posted by far the largest decline, falling to 65.1 in August from 79.0 in July, while the Current Conditions Index posted a more
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