Consumer Sentiment: Slightly Smaller Rebound in August

Bottom Line: The sharp rise in August sentiment was revised just a touch lower but remained sharply above the July level. This update including surveys conducted after the events in Charlottesville, but the survey's economist noted few respondents made any mention of the events. Continued gains in the stock market and little volatility in gasoline prices through the summer have pushed overall sentiment back near cycle highs. The last eight months have been the strongest since 2000. Consumer Sentiment ROSE by 4.2 points in early August to 97.6%, compared with market expectations for an increase to 94.0%. With this month's modest increase, sentiment is now 8.7% ABOVE its year ago level. Current Conditions FELL by 2.4 points to 111.0%. This is 3.7% ABOVE their year ago level. Consumer Expectations ROSE by 8.5 points to 89.0%. With this month's sharp increase, expectations are 13.1% ABOVE its year ago level.