Consumer Sentiment Declined in July

Consumer Sentiment fell 1.8 points in July to 93.4, according to the University of Michigan Consumer Sentiment Index.

The Current Economic Conditions Index rose 0.8 point to 113.4, while the Consumer Expectations Index decreased 4.1 points to 80.5.

“Consumer confidence remained largely unchanged at the same favorable level recorded at mid-month. The overall Sentiment Index has declined by 5.1 Index-points since the January peak, which was the highest figure in a dozen years,” said Richard Curtin, chief economist of UM Surveys of Consumers. “The relatively small decline still left the Sentiment Index higher in the first seven months of 2017 than in any other year since 2004. The size of the decline was tempered by record favorable views of Current Economic Conditions, which rose to its highest level since July of 2005.”

Read the University of Michigan Surveys of Consumers release.