2023-08-25 14:33:56
(Washington) Consumer confidence in the United States fell in August, after two months of increases, under the effect of a more marked fear of the future evolution of the economy, however remaining well above to its trend a year ago.
The index measuring this confidence fell 2.9% compared to July, to settle at 69.5 points, according to the final estimate made by the University of Michigan and published on Friday.
The trend is also down from the initial estimate for the month, released in mid-August, which was 71.2 points.
It also fell more markedly than anticipated by analysts, who were counting on an index in line with the preliminary estimate, at 71.2 points, according to the consensus published by briefing.com.
Over one year, however, the increase remains significant, with the index improving by 19.4%.
“The index remains at its second highest level in the last 21 months and 39% above its all-time low reached in June 2022”, recalled the director of the survey, Joanne Hsu, quoted in the press release. .
“Consumers perceive that the rapid improvements in the economy over the past three months have stalled, particularly on inflation, and they remain cautious about the future,” added Ms.me Hsu.
Among the sub-indices, the one measuring consumer expectations is indeed the one that has fallen the most, down 4.1% over one month to 65.5 points with in particular some uncertainties concerning inflation, which they now expect a little higher than last month by the end of the year.
The CPI inflation index, on which the amount of pensions is indexed, rose again in July, to 3.2% against 3% over one year in June.
A rise which is mainly focused on the increase in house prices, while core inflation, which does not take into account fluctuating food and energy prices, fell to 4.7% year-on-year, versus 4.8% year-on-year a month earlier.
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