UM consumer sentiment index falls slightly in August

CHICAGO, Aug. 25 (Xinhua) -- The Consumer Sentiment Index released Friday by the University of Michigan (UM) Surveys of Consumers fell to 69.5 in the August 2023 survey, down from 71.6 in July and above last August's 58.2.

The index ended the month with its second-highest reading in 21 months, following two months of large jumps resulting from the substantial slowdown in inflation and ongoing strength in labor markets, according to the UM Surveys of Consumers.