by Bill McBride on 8/13/2010 09:59:00 AM
Friday, August 13, 2010
The slight pickup in sentiment follows a drop in July to the lowest level since November, the data from Thomson Reuters/University of Michigan's Surveys of Consumers showed.Click on graph for larger image in new window.
The survey's preliminary August reading on the overall index on consumer sentiments rose to 69.6 from 67.8 in July ...
Consumer sentiment is a coincident indicator - and this is further evidence of a sluggish economy.
Interesting - the survey's one-year inflation expectations increased to 2.8% even with very low measured inflation.
This was a big story last month when consumer sentiment collapsed to the lowest level since late 2009. Even with the slight increase, this is still at the levels of late last year.
Posted by Bill McBride on 8/13/2010 09:59:00 AM