US Michigan consumer confidence rises to 55.1 in August, higher than expected | Reuters

The consumer confidence index (preliminary) released by the University of Michigan on the 12th rose to 55.1 in August from 51.1 in July, beating market expectations of 52.5. It hit a record low of 50 in June. (2022 REUTERS/Mark Makela)

[12日 ロイター] – The consumer confidence index (preliminary figure) released by the University of Michigan on the 12th rose to 55.1 in August from 51.1 in July, exceeding market expectations of 52.5. It hit a record low of 50 in June.

The current situation index fell unexpectedly to 55.5 from the previous month’s 58.1. Meanwhile, expectations index jumped from 47.3 to 54.9, the biggest increase since 2009.

Inflation expectations for the year ahead fell to 5.0% from 5.2%, the lowest level in six months. Meanwhile, inflation expectations five years ahead rose to 3.0% from 2.9%.

“All components of the Expectations Index improved this month, especially among low- and middle-income earners, who are most vulnerable to inflation,” said research director Joan Hsu. “Uncertainty over long-term inflation has eased somewhat, but still nearly 48% of consumers lament that inflation will reduce their living standards,” he said.

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