US: UOM Consumer Confidence Index improves to 55.1 in August vs. 52.5 expected

• Consumer confidence in the US improved modestly in August.
• UOM’s long-run inflation outlook edged higher to 3% from 2.9%.

Consumer sentiment in the US improved slightly in early August with the University of Michigan’s Consumer Confidence Index edging higher to 55.1 (flash) from 51.5 in July. This print came in slightly better than the market expectation of 52.5.

The Current Conditions Index declined to 55.5 from 58.1 and the Expectations Index rose to 54.9 from 47.3.

The long-run inflation expectation ticked up to 3% from 2.9% while the 1-year inflation outlook fell to 5% from 5.2%.

Market reaction

The US Dollar Index showed no immediate reaction to these data and was last seen rising 0.55% on the day at 105.66.