Consumer confidence fell in August from a six-year high as Americans observed rising interest rates and fluctuating stocks caused by uncertainty surrounding the Fed’s plans for quantitative easing, Bloomberg reports
The publication studied the Thomson Reuters/University of Michigan index of consumer sentiment and released the following findings:
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment fell to 80 from 85.1 in July, which was the highest since July 2007. The median projection of 68 economists surveyed by Bloomberg called for little change at 85.2. The decline this month was the biggest since December.
