Consumer Sentiment Down Modestly From July

The Reuters/University of Michigan preliminary consumer sentiment number was revised up to 65.7 from 63.2, compared to a reading of 66.0 in July.  August’s current conditions index finished at 66.6, compared to a preliminary reading of 64.9, and 70.5 in July.  The expectations index was revised up to 65.0 versus 62.1, and a reading of 69.2 in July.  Weakness in the labor market continues to weigh down consumer sentiment, while positive equity performance has helped offset some of this effect.