NEW YORK - The University of Michigan's preliminary July consumer sentiment index reading was 66.5, compared to the final June 76.0, the preliminary June 75.5, and the final May 73.6 reading, according to market sources.
Economists polled by Thomson Reuters had predicted a 75.0 reading for the index.
The expectations index was 60.6, compared to 69.8 last month, 70.7 earlier in June, and 68.8 in May.
The current conditions index was 75.5, compared to 85.6 last month, 82.9 earlier in June, and 81.0 in May.
Economists polled by Thomson Reuters had predicted an 84.0 reading for the current conditions index and 68.4 for the expectations index.
The five-year inflation expectation index was 2.9%, compared to 2.8% last month, 2.8% earlier in June, and 2.9% in May, while the one-year inflation expectation index was 2.9%, compared to 2.8% last month, 2.7% earlier in June, and 3.2% in May.
The University of Michigan index is not released to the press, but only to paying subscribers.
