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UMich Consumer Sentiment Slips As Business Expectations Collapse To 11-Month Lows

It appears the US Consumer is losing faith. August preliminary UMich Consumer Sentiment slipped from July's 93.1 and missed expectations. This is the 2nd weakest print since November. Longer-term inflation expectations fell back to 2.7% and expectations for household income growth slipped to just 1.6%, but the collapse in business expectations to 11-month lows is the most crucial aspect.

The headline was weak...

 

But hope is fading fast...

 

Charts: Bloomberg