Consumer sentiment improves in August

The University of Michigan preliminary index of consumer sentiment rose to 90.4 in August from 90 in July, missing expectations of 91.5. 

Current economic conditions index fell to 106.1 in August from 109 in July. But consumer expectations index rose to 80.3 from 77.8.     

“Confidence inched upward in early August due to more favorable prospects for the overall economy offsetting a small pullback in personal finances,” said the University of Michigan. “Concerns about Brexit have faded amid rising references to the outcome of the presidential election as a source of uncertainty about future economic prospects.”