US: Consumer confidence to remain unchanged at 127.0 in August - Nomura

Analysts at Nomura expect the US Conference Board’s consumer sentiment index to remain essentially unchanged at 127.0 in August.

Key Quotes

“Consumer sentiment has remained resilient so far amid the solid pace of pace of job creation and low unemployment.”

“Despite rising concerns over international trade disputes, the Conference Board’s consumer survey will likely reflect elevated consumer optimism driven by the strong labor market. As downside risk, many consumers continued to make negative reference to trade disputes in the preliminary University of Michigan survey for August and partly weighed on the current conditions index.”

“Similarly, trade concerns could weigh on the Conference Board survey’s equivalent measure. In addition, the softening in the August Michigan Survey was partly driven by a sharp deterioration in consumers’ assessment of price-related buying conditions (particularly, for cars and durable goods) and could affect the Conference Board survey as well.”