Up but still really low: UoM confidence index improves in August

12 August 2022

 

Summary: University of Michigan consumer confidence index firms in July, above consensus expectations; views of present conditions deteriorate, future conditions improve; expectations improvement notable among low, middle income groups; may “soothe” concerns about spiralling fall in private demand. US consumer confidence started 2020 at an elevated level but, after a few months, surveys began to reflect a growing unease with the global spread of COVID-19 and its reach into the...

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