U.S. Consumer Sentiment Fell in Early July on Higher Inflation Expectations


Well-Known Member
Gold Member
Aug 20, 2003

That's a heck of a miss.....


Consumer sentiment in the U.S. declined in early July as Americans' prospects for the national economy deteriorated amid concerns over high inflation.

The preliminary estimate of the index of consumer sentiment released Friday by the University of Michigan came in at 80.8 in July, down from 85.5 in June. The reading missed expectations from economists polled by The Wall Street Journal, who forecast the indicator to increase to 86.3.

The decline was caused by a misjudgment by consumers in the pace that the economy would recover as the pandemic eased, said Richard Curtin, the survey's chief economist. This involved both underestimating the economy's ability to reactivate supply lines and restore jobs, and the resulting impact on inflation, he said.

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