UMich Sentiment Slumps In August As War Re-Escalated, Inflation Fears Tick-Up

UMich Sentiment Slumps In August As War Re-Escalated, Inflation Fears Tick-Up Following July's rebound to pre-war levels, the preliminary August University of Michigan Consumer Sentiment index was expected to weaken modestly as the MidEast re-escalated (and with it the price of gas). Sure enough, the headline sentiment index tumbled from 55.2 to 51.0 (55.0 exp) with both Current Conditions (51.8 vs 54.8 prior vs 54.9 exp) and Expectations (50.6 vs 55.4 prior vs 55.2 exp) also both tumbling... Decreases in sentiment were seen across the political spectrum, with Republicans exhibiting the strongest...