Market Overview

Consumer Sentiment Touches 3-Month High in Early August


Originally published on Fox Business

U.S. consumer sentiment improved in early August to its highest level in three months as sales at retailers and low mortgage rates spurred Americans to boost their buying plans, a survey released on Friday showed.

But concerns about rising food prices caused a jump in both short- and long-term inflation expectations, the Thomson Reuters/University of Michigan consumer sentiment survey showed.

The preliminary reading on the index on consumer sentiment rose to its highest level since May at 73.6 from 72.3 last month, topping economists' forecasts for a slight uptick to 72.4.

"Although the growth rate in personal consumption expenditures can be expected to rebound from the second quarter lull, growth can be expected to remain just under 2% to the end of the first quarter of 2013,'' survey director Richard Curtin said in a statement.

Continue reading this article here.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Markets Trading Ideas


Related Articles

View Comments and Join the Discussion!
Lightning Fast
Market News Service
$199 Free 14 Day Trial
Book A Demo
Learn How You Can Succeed In The Market With Benzinga Pro

Fastest Market News

Real-Time News Alerts

Customizable News Filters

Book A Demo

Leading Economic Show Improvement in July

EdR Closes Stock Offering of 17.24M Shares