US CONSUMER SENTIMENT RISES IN AUGUST

U.S. consumer sentiment rose in August, driven by developments in the race for the White House, while inflation expectations remained unchanged over the next year and beyond. The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 67.8 this month, compared to a final reading of 66.4 in July.

In terms of the Nov. 5 U.S. presidential election, the survey noted that sentiment for those who identified as Democrats jumped 6% in the wake of President Joe Biden's decision to drop out of the race and Vice President Kamala Harris' emergence as the party's presidential nominee, the first rise since March.

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