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UMich Beats But Warns A Drop Is Imminent

The University of Michigan Sentiment survey beat expectations with its preliminary August print (97.6 vs 94.0 exp) driven by a massive spike in 'hope' as currenct conditions slump to their weakest since Nov 2016. How long will that 'hope' spike last? As UMich details, too few interviews were conducted following Charlottesville to assess how much it will weaken consumers' economic assessments.
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