Consumer sentiment ticks higher in August, but misses consensus

• University of Michigan August Consumer Sentiment 70.3 vs. 70.9 consensus and 70.2 prior.
• There was no lessening in late August in the extent of the collapse in consumer sentiment recorded in the first half of the month. The Consumer Sentiment Index fell by 13.4% from July, recording the least favorable economic prospects in more than a decade.
• Current Economic Conditions: 78.5 vs. 77.9 prior.
• Index of Consumer Expectations: 65.1 vs. 65.2 prior.