TechFlow, August 29 — According to Jinshi Data, ongoing concerns over tariffs have driven the U.S. consumer confidence index to a three-month low, as pessimism about the economic outlook and inflation spreads among the public.
A survey released Friday by the University of Michigan showed the final consumer sentiment index for August dropped to 58.2 from 61.7 in July, falling below the preliminary reading of 58.6. The latest data indicates consumers expect prices to rise 4.8% over the next year, up from 4.5% last month.
Longer-term inflation expectations for the next 5–10 years stood at 3.5%, an improvement from the 3.9% recorded in the earlier preliminary survey this month. These figures highlight consumer anxiety regarding employment prospects and business conditions.
About 63% of consumers anticipate rising unemployment over the next year—a figure that has increased from last month and is significantly higher than the same period in 2024. Next week's August employment report is expected to show continued modest job growth.
