The University of Michigan’s preliminary July consumer sentiment index reading was 64.6 compared to the 70.8 final number in June, 68.7 in May, and 65.1 in April, according to market sources.

Economists polled by Thomson Reuters had predicted a 70.5 reading for the index.

The expectations index preliminary figure was 60.9 in July compared to 69.2 in June and 69.4 in May.

The current conditions index preliminary number was 70.4 in July compared to a final 73.2 in June, 67.7 in May, and 68.3 in April.

The five-year inflation expectation index preliminary was 3.1% in July compared to  a final 3.0% in June and 2.9% in May, and the one-year inflation expectation index preliminary was 3.0% in July, compared to 3.1% in June, and 2.8% in May.

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