Consumer Sentiment Weakens On Double-Dip Fears, But Improves From July

The final reading of the University of Michigan Consumer Sentiment Index for August came in at 68.9, below the 69.6 reading earlier in the month. Analysts expected the reading to come in at 69.6. However, the reading was still above the 67.8 registered at the end of July. The drop was due to increased worries regarding the future as the economic outlok index fell from 64.1 to 62.9. The current economic conditions index remained at 78.3. Many experts believe the increased chatter of a double-dip recession has contributed to a weaker consumer sentiment.