The UM consumer confidence index falls to 80.8 in July compared to the expected 86.5

Get real time updates directly on you device, subscribe now.

  • Consumer confidence in the United States weakened in July.
  • The US Dollar Index clings to daily gains around 92.70.

The Consumer Sentiment Index in the US. it fell to 80.8 (preliminary) in July from 85.5 in June, the latest Consumer Surveys from the University of Michigan showed on Friday. This reading disappointed the market’s expectation of 86.5.

Further details from the release revealed that the Current Economic Conditions Index dropped to 84.5 from 88.6 and the Consumer Expectations Index dropped to 78.4 from 83.5. Finally, the 1-year inflation outlook jumped to 4.8%, the highest since August 2008, from 4.2%.

Market reaction

The US Dollar Index did not show an immediate reaction to this report and was last seen gaining 0.15% on the day at 92.70.

.
Source Link

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.