Consumer Confidence Declines in August

Consumer confidence declined this month, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The month’s preliminary index declined to a reading of 80 from 85.1 in July.

The reading was lower than economists’ median forecast of 85.2, Bloomberg News reported.

The index averaged 64.2 during the recession that ended in June 2009 and 89 in the five years prior to that.