Friday, July 26, 2013

Consumer Confidence Rose in July

Consumer confidence rose to its highest level in 6 years, according to the University of Michigan’s Consumer Sentiment index. The gain in consumer sentiment was driven solely by current conditions, as future expectations dropped. July’s index was 85.1, an increase of 1.0 index points over the previous month.

The present index portion of the index improved 4.8 points from the month prior to 98.6. It’s at its highest level since July 2007. Future expectations declined 1.3 points to 76.5.

Inflationary expectations were little changed, with the 1-year expectation increasing 0.1% to 3.1% and the 5-year expectation declining slightly to 2.8%.

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