August Business Inventories rose 0.8% (consensus 0.9%) following a revised increase of 0.5% in July (from 0.6%).
The preliminary University of Michigan Consumer Sentiment reading came in at 59.8 (consensus 58.6) after the prior reading of 58.6. In the same period a year ago, the index stood at 71.7.
The key takeaway from the report is that inflation expectations for the year ahead and five-year period increased from September, creating some uncertainty about the strength of consumer spending activity in coming months.
- This reply was modified 1 month, 2 weeks ago by Truman.