NEW YORK - The University of Michigan's preliminary July consumer sentiment index reading was 63.8, compared to 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, compared to 64.8 in June, 66.8 earlier in June, and 69.5 in May.
The current conditions index was 76.3, compared to 82.0 in June, 79.6 earlier in June, and 81.9 in May.
Economists polled by Thomson Reuters had predicted a 72.5 reading for the main index, 81.0 for current conditions and 66.0 for expectations.
The five-year inflation expectation index was 2.8% compared to 3.0% in June, and 2.9% in May, , while the one-year inflation expectation index was 3.4%, compared to 3.8% in June, and 4.1% in May.
The University of Michigan index is not released to the press, but only to paying subscribers.
