Friday, August 1, 2014

Consumer Confidence Dipped in July

Consumer sentiment dipped in July to 81.8, in line with expectations, according to the University of Michigan Consumer Sentiment Index.

Consumers are less optimistic about the future compared to the present. Current expectations improved slightly in July, growing to 97.1, as consumers noted slightly stronger finances. Future expectations declined 2.4 points to 71.1.

The report indicated that inflationary expectations were little changed from the prior month, calling for 3.3% inflation rate over the next year and 2.6% over the next 5 years.

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