Last Update: 13-Jul-18 10:20 ET
- The University of Michigan's preliminary Consumer Sentiment Survey for July showed a dip in the Index of Consumer Sentiment to 97.1 (Briefing.com consensus 97.8) from 98.2 in June.
- The July reading for the Index of Consumer Sentiment is nearly equal to the average in the prior twelve months (97.7) and since the start of 2017 (97.4).
- The Current Economic Conditions Index fell to 113.9 from 116.5
- The Index of Consumer Expectations edged up to 86.4 from 86.3
- The key takeaways from the report are twofold: (1) it revealed negative concerns about the impact of trade tariffs are rising among the top third of the income distribution, who account for half of consumer spending and (2) consumers under the age of 45 are anticipating the largest income gains since July 2000.