The economic week could end on a sour note down south, due to figures released Friday by the University of Michigan. The Ann Arbor-based university said its consumer sentiment index in August fell to 95.3, down from 97.9 in July, the lowest level in 11 months.
Economists expected a reading of 98.5.
The decline was concentrated among households in the bottom third of the income distribution. And the concern was rising prices.
Buying conditions for large household durables, which include items such as furniture, cars and appliances, sank to the lowest level in nearly four years, the University of Michigan said, and for vehicles, in particular, the worst in the last four years.
Home prices down south, meanwhile, were judged less favorably than anytime since 2006.
This is the first time in a while where perceptions of inflation really impacted the report. The one-year anticipated inflation rate stayed at 2.9%.
