The University of Michigan’s preliminary July consumer sentiment index reading was 56.6, compared to final June 56.4 reading, 56.7 earlier in June, and 59.8 in May, according to market sources.
Economists polled by IFR Markets had predicted a 56.0 reading for the index.
The expectations index was 48.3, compared to 49.2 last month, 49.0 at mid-June, and 51.1 in May.
The current conditions index was 69.5, compared to 67.6 last month, 68.7 earlier in June, and 73.3 in May.
The five-year inflation expectation index was 3.4% in July, compared to 3.4% last month, 3.4% earlier in June, and 3.4% in the final May reading, while the one-year inflation expectation index was 5.3% in July, 5.1% in June, 5.1% earlier in June, and 5.2% in May.
The University of Michigan index is not released to the press, but only to paying subscribers.
