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Consumer Sentiment in U.S. Fell in August to Nine-Month Low

Bloomberg (08/15/14) Nina Glinski

Consumer confidence in August dropped to a nine-month low due to depressed wage perceptions, according to the Thomson Reuters/University of Michigan preliminary sentiment index, which fell to 79.2 from 81.8 the previous month. The index was lower than any economist surveyed by Bloomberg had expected. There is mounting concern that earnings are not growing as fast as prices and pockets of weakness remain in the labor market.