Consumers remain gloomy
The Thomson Reuters/University of Michigan’s consumer sentiment index edged up from its mid-August level but was still consistent with recession-era lows, CNBC reported today.
The final August reading on the overall index of consumer sentiment was at 55.7, down from 63.7 the month before. The index has been lower in only three other surveys, two in 1980 and one in November 2008 in the midst of the financial meltdown. It was slightly better than August’s preliminary reading of 54.9, which had been the lowest level since May 1980.