U.S. consumer sentiment falls to three-month low in Aug.
Xinhua, August 28, 2015 Adjust font size:
U.S. consumer sentiment fell in August affected by the recent stock market turmoil, the Thomson Reuters/University of Michigan index of consumer sentiment revealed on Friday.
The final reading of the consumer sentiment in August fell to 91.9 from 93.1 in July, the lowest level in three months.
"Consumer confidence declined in late August mainly due to the recent volatility in stock prices," said the survey.
U.S. stocks plunged on Monday with the Dow Jones Industrial Average diving 588.47 points, or 3.58 percent, to 15,871.28, as global stock markets suffered free falls.
As the market turbulence occurred very late in the month and was offset by still quite favorable job and income prospects, the overall decline of consumer confidence was "quite small" this month, said the survey, adding consumers' real reactions to the volatile stock market will be much clearer in mid-September.
The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, fell to 105.1 from 107.2 last month.
The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, decreased to 83.4 from 84.1 in July. Endi