US Consumer Sentiment Deteriorates in August
Inflation worries and higher energy costs pushed the index below economists’ expectations, while Republicans saw the sharpest month-to-month drop, the survey said.
- The University of Michigan's Consumer Sentiment Index fell to 51.0 from 55.2 in July, ending two months of improvement as consumers worry about rising living costs tied to the Middle East conflict.
- Joanne Hsu, director of the Surveys of Consumers, noted sentiment among Republicans is now 19% below readings prior to the Iran conflict, the lowest since the 2024 election, with significant declines across older and lower-income consumers.
- Across all consumers, only 8% expect income growth to exceed inflation, down from 18% in December 2024, while national average gas prices compiled by AAA remained above $4 a gallon amid the Hormuz Strait closure.
- Vice President Vance told Fox News the administration's primary goal involves keeping "oil and gas cheap for Americans all over our country," while ensuring "Iran never gets a nuclear weapon."
- Consumer expectations for inflation over the next year increased to 4.3% from 4.2%, while five-year expectations remained unchanged at 3.3%, reflecting beliefs that high prices will remain burdensome.
24 Articles
24 Articles
Consumer sentiment dips, especially among Republicans
Data: University of Michigan; Note: August 2026 number is preliminary; Chart: Neil Irwin/AxiosPublic opinion about the economy appears to be souring further this month, per the preliminary release of the University of Michigan's consumer sentiment index.By the numbers: Overall sentiment fell 8% in the early days of August, after two consecutive months of improvement.The index fell to 51, from 55.2 in July. That remains above the recent lows reac…
(New York = Yonhap News) Correspondent Kim Yeon-sook = U.S. consumer sentiment, which had improved for two consecutive months, turned downward in August for the first time in three months.
Consumer sentiment falls in August amid uncertainty about Iran war
Consumer sentiment dropped more than expected this month, ending two months of improvement. Consumer sentiment fell to 51, down from 55.2 in July, according to a preliminary reading of the University of Michigan Consumer Sentiment Index for August. That’s nearly an 8% decline from the month before. Sentiment is down 12.4% from a year ago. PRODUCER PRICES FELL 4.7% IN JULY AMID INFLATION CONCERNS Declines in consumer sentiment were seen across t…
Coverage Details
Bias Distribution
- 46% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
