Those Gloomy Consumers

The University of Michigan consumer sentiment index hits its lowest point since October, but there's no proof of an actual shopping drought

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.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.