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Consumer sentiment falls in July

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Consumer sentiment falls in July

Key index falls short of expectations.

Consumer sentiment dipped in July, according a closely-watched barometer of confidence.

According to multiple outlets, the closely-watched Thomson Reuters/University of Michigan consumer sentiment index fell to 81.3 in July, compared to the 82.5 rating in June.

Analysts had expected a reading of 83.

"The most remarkable aspect of recent trends in consumer confidence has been its resistance to change in either direction."However, according to the survey director, the overall stability of consumer sentiment in recent months is a positive thing. As quoted in a story from Reuters:

"The most remarkable aspect of recent trends in consumer confidence has been its resistance to change in either direction due to very negative GDP nor very positive employment gains,'' survey director Richard Curtin said in a statement.

"This stability will provide the necessary strength for consumer spending to continue to expand, but does not support an acceleration in spending above 2.5 percent.''

 

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