World Economy

US Consumer Sentiment Declines

US Consumer Sentiment DeclinesUS Consumer Sentiment Declines

Consumer confidence declined in August to a three-month low as recent stock-market turbulence weighed on Americans’ outlook for the US economy in the coming year, Bloomberg reported. The University of Michigan consumer sentiment final index for the month fell to 91.9 from 93.1 in July. The median projection in a Bloomberg survey of economists called for a reading of 93, little changed from the preliminary reading of 92.9. A measure of prospects for the economy over the next 12 months was the weakest since November. Confidence withered in the second half of the month after US stocks plunged on concerns about the Chinese economy.