Those Gloomy Consumers
The University of Michigan consumer sentiment index tumbled to 78.7 in the preliminary August reading, vs. 84.7 in the final July print. That's the lowest since last October in the aftermath of the hurricanes. The current economic conditions index fell to 100.8 from 103.5 in July. The economic outlook index dropped to 64.5 from 72.5. The 1-year inflation index jumped to 4.2%, from 3.2% in July.
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