Consumer Confidence Slips; Manufacturing Index Improves

Consumer confidence fell in August, while a Midwest manufacturing index improved, Bloomberg News reported Aug. 30.

Consumer confidence declined to a reading of 82.1, from 85.1 in July, according to the Thomson Reuters/University of Michigan consumer sentiment index.

The month’s final reading was higher than a preliminary reading of 80 issued two weeks ago. Economists’ median forecast predicted an 80.5 reading, Bloomberg reported.

Separately, the MNI Chicago business barometer index rose to a 53 reading in August, from 52.3 in July. Readings greater than 50 signal expansion.

The reading matched economists’ median forecast, Bloomberg reported.

Chicago is a major center of U.S. manufacturing, which is one of trucking’s largest and most important customers.