The Amounts: The University of Michigan said Friday that the final reading of its U.S. consumer-sentiment index for August was 67.9, a little higher than the preliminary reading of 67.8 that came out earlier in the month.
The Wall Street Journal polled economists and found that they thought the mood would slightly improve to a final number of 68. In July, the number was 66.4.
Important Facts: A measure of how people feel about the economy as it stands now went up from a baseline 60.9 to 61.3 at the end of August.
The number of people who are optimistic about the next six months stayed the same at 72.1.
Inflation expectations in the US have dropped from 2.9% in July to 2.8% over the next year.
In The Big Picture: Things have gotten better because Democrats are happier since President Joe Biden dropped out of the race for president to support Vice President Joe Biden. Independents’ trust has gone up a little. Republicans no longer like the idea of the future.
College of Michigan says the presidential race has changed. People now think Harris will win the race. Former President Donald Trump was thought to beat Biden just last month. And as Election Day gets closer, expectations can still change, according to Joanne Hsu, who is in charge of the UMich consumer poll.
