Preliminary University of Michigan Sentiment Index rose to 55,1 from 51,5 in July and it is highest in 3 months. Moreover, inflation expectations decreased to 5% over the year (from 5,2% in July) and long-term inflation expectations are slightly higher at 3% in comparison to 2.9% in July.
The gain in sentiment was driven solely by a pickup in the outlook which is at 54.9 in comparison to 47.3 in July. Current conditions are slightly lower and came at 55.5 from 58.1.
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Source: xStation5
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