The Survey of Consumers preliminary reading on consumer sentiment fell to 92.1, the lowest level for the year.
| Survey of Consumers | August (p) | Consensus | July (f) | August 2018 | M/M ∆ | Y/Y ∆ |
| Index of Consumer Sentiment | 92.1 | 97.5 | 98.4 | 96.2 | -6.4% | -4.3% |
| Current Economic Conditions | 107.4 | 110.7 | 110.3 | -3.0% | -2.6% | |
| Index of Consumer Expectations | 82.3 | 90.5 | 87.1 | -9.1% | -5.5% |
(p): Preliminary Reading (f): Final Reading
“The main takeaway for consumers from the first cut in interest rates in a decade was to increase apprehensions about a possible recession,” Richard Curtain, Chief Economist for the Survey of Consumers said. “Consumers concluded, following the Fed’s lead, that they may need to reduce spending in anticipation of a potential recession.”
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