US August University of Michigan consumer confidence index index stood at 95.3, not only well below the expected value of 98 and the last July value of 97.9, and reached a new low since last September, the second the low point this year is 95.7 in January.
Wall Street has noticed the popularity of consumer confidence at the University of Michigan around January around 98.0, and the value at the beginning of August fell 2.7% from the previous month, since February this year, since it rose to 100.00 in March this year and reached a new high since January 2004. For the first time it fell below 96.0.
From the breakdown of sub-data, the sharp fall in the initial value of the consumer confidence index in August was mainly due to the significant decline in the consumer status index, reflecting the consumer's assessment of their financial situation. The initial value of the consumer status index for August was 107.8, 5.8% lower than in July and 114.4 in July.
Richard Curtin, chief economist at the University of Michigan consumer survey, noted that the general fall in consumer confidence in August was mainly influenced by low consumer confidence. The weak index reflects the perception of the consumer that the buying environment, mainly the market price, is against itself. unfavorable. Consumer assessment of the purchasing environment for household durables in bulk reached a low point of four years, and the evaluation of the prices of household durable goods was the most unfavorable in almost a decade. The evaluation environment for buying and buying a house was the worst in the last four years and the past ten years.
The initial value of the consumer expectations index at the University of Michigan, which shows consumer ratings for the coming year, was 87.3, which was flat in July, compared to the minimum of five months that was created in June: 86.3 .
The research report also shows that the inflation data from the survey, which is very important to FedEx, does not differ much from the inflation expectations of consumers for a year and five years.
The one-year inflation forecast of the University of Michigan for August was 2.9, unchanged from July. The initial five-year inflation forecast for the University of Michigan in August was 2.5, slightly higher than the 2.4 in July.
"News source / Wall Street See"
Source link