Consumer sentiment slipped slightly in early August, according to a survey from the University of Michigan.
Michigan’s consumer sentiment index checked in at 92.9 in the preliminary results for August, down from 93.1 in July. Economists had expected a small increase.
{mosads}Richard Curtin, the chief economist for the survey, was largely unconcerned, saying confidence over the last nine months was at its highest since 2004.
Consumers are now less confident in the economy, driving the August decline, Curtin said. But he added that there was also an uptick in personal finances.