Michigan Consumer Sentiment Index Fell In July

Posted By on July 16, 2010

Michigan Consumer Sentiment Index Fell in July

By Shobhana Chandra       Jul 16, 2010

July 16 (Bloomberg) — The Thomson Reuters/University of Michigan preliminary index of consumer sentiment fell to 66.5 in July from 76 a month earlier, below forecasts. Economists surveyed by Bloomberg News had a median projection of 74. Bloomberg’s Mike McKee reports. (Source: Bloomberg)

Confidence among U.S. consumers slumped in July to the lowest level in a year, signaling the biggest part of the economy is losing momentum.

The Thomson Reuters/University of Michigan preliminary sentiment index decreased to 66.5, the lowest since August 2009, from 76 in June. The reading was lower than the most pessimistic forecast of economists in a Bloomberg News survey with a median projection of 74.

http://www.bloomberg.com/news/2010-07-16/consumer-confidence-declines-more-than-forecast-to-66-5-in-michigan-index.html

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