US consumer sentiment declines in August

U.S. consumer sentiment declined in August as weaker personal financial prospects dragged down consumers' confidence.

The final reading of the consumer sentiment for August slid to 89.8 from 90 in July, said the Thomson Reuters/University of Michigan index of consumer sentiment on Friday.

"Confidence eased back in late August to register a trivial decline from the July reading," said survey director Richard Curtin in a statement.

"Less favorable personal financial prospects were largely offset by a slight improvement in the outlook for the overall economy," said Curtin.

The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, slid to 107 from 109 last month.

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, added to 78.7 from 77.8 in July.

Source : XINHUA