The US consumer confidence index rose for the first time in five months in August due to slowing inflation and the prospect of interest rate cuts from the Federal Reserve boosted expectations about personal financial conditions. The final value of the University of Michigan's consumer confidence index rose to 67.9 in August, compared to 66.4 in July. The initial value was 67.8. Data released on Friday showed that consumers expected the inflation rate to be 2.8% in the next year, lower than the 2.9% forecast in July, and the lowest level since the end of 2020. The inflation rate for the next five to ten years is expected to be 3%. Although cooling price pressure helps stabilize market sentiment, high borrowing costs, declining recruitment, and rising living costs are still a drag on consumers. The University of Michigan's consumer confidence index is far below pre-COVID-19 levels. Meanwhile, 48% of respondents expect interest rates to fall in the next year, the highest rate since 1982.

The US consumer confidence index rose for the first time in five months in August due to slowing inflation and the prospect of interest rate cuts from the Federal Reserve boosted expectations about personal financial conditions. The final value of the University of Michigan's consumer confidence index rose to 67.9 in August, compared to 66.4 in July. The initial value was 67.8. Data released on Friday showed that consumers expected the inflation rate to be 2.8% in the next year, lower than the 2.9% forecast in July, and the lowest level since the end of 2020. The inflation rate for the next five to ten years is expected to be 3%. Although cooling price pressure helps stabilize market sentiment, high borrowing costs, declining recruitment, and rising living costs are still a drag on consumers. The University of Michigan's consumer confidence index is far below pre-COVID-19 levels. Meanwhile, 48% of respondents expect interest rates to fall in the next year, the highest rate since 1982.