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Consumer sentiment falls in August

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Consumer sentiment falls in August

Closely-watched barometer misses expectations.

Consumer sentiment fell in early August, according a closely-watched barometer of confidence.

According to multiple outlets, the closely-watched Thomson Reuters/University of Michigan consumer sentiment index fell slightly to 89.8 in August, missing analysts’ expectations of 90.8.

July’s reading came in at 90.0.

In a statement quoted by Dow Jones, Surveys of Consumers Chief Economist Richard Curtin said, "Less favorable personal financial prospects were largely offset by a slight improvement in the outlook for the overall economy."

It should be noted that consumer sentiment fell briefly following the UK referendum results showed a victory for the Leave campaign, but subsequently rebounded as concerns abated about an economic crisis in the EU.

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