World Economy

US Consumer Sentiment Falls

US Consumer Sentiment FallsUS Consumer Sentiment Falls

Confidence among US consumers eased for a second month in August as households braced for an increase in interest rates that could slow growth. The University of Michigan’s preliminary index of sentiment decreased to 92.9 from 93.1 in July, figures showed Friday. The median forecast in a Bloomberg survey of economists called an increase to 93.5. Concern about the economy was counterbalanced by the most optimistic views on wages in 15 years. Americans’ spirits have been boosted as gasoline prices retreat and companies continue to increase headcounts and limit dismissals. The global financial turmoil caused by China’s recent currency devaluation has yet to affect sentiment, heightening the focus on future reports.