The University of Michigan’s preliminary July consumer sentiment index reading was 63.8, following the final June 71.5, the preliminary June 71.8, and the final May 74.3 reading according to market sources.

The expectations index was 55.8, down from 64.8 in June.

The current conditions index was 76.3, compared to 82.0 in June.

Economists had predicted a 72.5 reading for the main index, 81.0 for current conditions and 66.0 for expectations.

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