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U.S. consumer sentiment falls to 10-month low

Staff writer |
U.S. consumer sentiment fell to the lowest level since last November as expectations for future spending kept dropping, the Thomson Reuters/University of Michigan index of consumer sentiment revealed.

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The preliminary reading of the consumer sentiment, which records the figure for the first half of a month, edged down to 79.2 in August from 81.8 in July, lower than the market average expectation of 82.5.

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, decreased for a fourth straight month, to 66.2 from 71. 8 last month.

The 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, rose to 99.6 from 97.4 last month.

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