Consumers were markedly more pessimistic about their willingness to buy durable goods. Sentiment regarding overall livelihood and job prospects posted a softer drop in the month. Income growth, however, was unchanged from July’s print. Regarding inflation, expectations of higher prices declined in August, with 87.0% of respondents expecting prices to trend higher (down 0.1 percentage points from last month’s survey).
FocusEconomics Consensus Forecast panelists expect private consumption to rise 0.6% in 2019, which is up 0.1 percentage points from last month’s forecast. In 2020, the panel sees private consumption growing 0.1%.