Preliminary August UMich Consumer Confidence Preview
Preliminary August UMich Consumer Confidence is expected at 62 after a final reading of 61.2 in July. The drop in oil and gas prices was a major factor in the improvement of July’s numbers, and the August reading should get a similar boost from lower energy prices. In addition, the S&P 500 has gained 2.4% in August.
The Current Index increased from 67.6 in June to 73.1 in July, and the Expectations Index declined rose from 49.2 to 53.5.
Related data include:
• August RBC-CASH Index jumped to 33.8 from 14.6 in July
• Weekly ABC Index fell to -49 from an average -43.4 in Jul
• August IBD/TIPP Sentiment Index rose to 42.8 (highest since Feb) from 37.4 in July
• July Consumer Confidence from the Conference board improved to 51.9 from 51.0 in June