(CercleFinance.com) – The morale of American households picked up in August, according to the preliminary results of the University of Michigan’s monthly survey released on Friday.
This barometer of consumer confidence rose to 55.1, after 51.5 in July, but is still down sharply from the figure of 70.3 published last year at the same time.
Economists and analysts were expecting an index around 53.
The component of consumers’ judgment of their current situation deteriorated to 55.5 from 58.1 last month, but that of their outlook is up sharply, to 54.9 from 47.3.
An improvement that the UMich explains by the fall in inflation expectations due to the fall in energy prices, which is particularly beneficial among households from the middle classes and the least privileged families.
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