Preliminary results show declines compared to July and index remains below year ago levels.
The University of Michigan Index of Consumer Sentiment was down over three index points from July according to the preliminary results for August released Friday. The preliminary result of 58.6 was 3.1 points or 5% lower than 61.7 in July. The preliminary August result was also down 9.3 points, or 13.7% from 67.9 in August 2024. This is the first time in four months that the index has posted a decline.
According to the University of Michigan Surveys of Consumers. Director Joanne Hsu, the deterioration largely
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