The final August results for the University of Michigan's consumer sentiment index are 'due to negative references to tariffs.'
The University of Michigan's consumer sentiment index showed its largest monthly decline since 2012 Friday, falling to 89.3 in August from a 98.4 reading in July. The newest data is the lowest reading since October 2016, following the recent yield curve inversion and trade war escalations that have revived recession concerns. The negative trend"is due to negative references to tariffs" from those surveyed, Survey of Consumers Chief Economist Richard Curtin said in a statement.
The University of Michigan's consumer sentiment index showed its largest monthly decline since 2012 Friday, falling to 89.3 in August from a 98.4 reading in July. The newest data is the lowest reading since October 2016, following the recent yield curve inversion and trade war escalations that have revived recession concerns. The negative trend"is due to negative references to tariffs" from those surveyed, Survey of Consumers Chief Economist Richard Curtin said in a statement.
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