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U. of Michigan consumer sentiment prelim survey for August rises to 55.1 vs. 52.5 estimate

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  • University of Michigan preliminary survey for August 2022
Greg Michalowski

  • Sentiment index 55.1 vs. est 52.5 and 51.5 last month
  • Conditions 55.5 vs. an estimate of 59.0 and 58.1 last month
  • Expectations 54.9 vs. an estimate of 48.4 and 47.3 last month
  • 1 year inflation 5.0% vs. last month 5.2%
  • 5 year inflation 3.0% vs. 2.9%. The high watermark since 2011 is 3.1%.

A mixed result with one year inflation coming down to 5.0% from 5.2%, but the 5 year inflation gauge rose to 3.0% from 2.9%. Interestingly enough current conditions came in weaker than expected despite the lower gas prices (rents and food cost may be offsetting the lower gas price boost).

Expectations however did increase well above estimates and helped to push up the overall sentiment index for the month.

US stocks are dipping modestly with the Dow now up 0.33% and the S&P up 0.48%. The NASDAQ is up 0.68%.

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