Consumer Companies Up After Strong Confidence Data -- Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies rose after strong consumer-sentiment data.

Continue Reading Below

The University of Michigan on Friday said its consumer-sentiment index was 96.8 in August, up from 93.4 in July, but down from a preliminary August reading of 97.6. The sentiment index has been higher during the first eight months of 2017 than in any year since 2000, mainly a result of consumers' positive view of their financial situations, including gains in home values and stock prices.

U.S. auto sales were generally weaker in August, another sign that consumer demand has slowed after years of booming sales. While promotions on sports-utility vehicles drove growth at General Motors, many automakers, including Ford Motor, saw declines. Some cited lost sales from Tropical Storm Harvey.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

September 01, 2017 17:25 ET (21:25 GMT)