Consumer Sentiment Slips due to Global Uncertainty

Consumer sentiment slipped in July to 90.0, down 3.5 points from the previous month, according to the University of Michigan Consumer Sentiment Index.

The Current Economic Conditions Index fell 1.8 points from June to 109.0, while the Index of Consumer Expectations fell 4.6 points to 77.8.

“Although confidence strengthened in late July, for the month as a whole the Sentiment Index was still below last month’s level mainly due to increased concerns about economic prospects among upper income households,” said Richard Curtin, Chief Economist of UM Surveys of Consumers. “Uncertainties surrounding global economic prospects and the presidential election will keep consumers more cautious in their expectations for future economic growth.”

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