News Column

U.S. Consumer Confidence Got Weak in July

August 15, 2014

ICN.com Financial Markets

U.S. shoppers cut  purchases down to the basics in July (file photo)
U.S. shoppers cut purchases down to the basics in July (file photo)

U.S. consumer sentiment declined in March as households were less optimistic about the prospects for the overall economy, a survey by the University of Michigan showed on Friday.

The Thomson Reuters/University of Michigan`s preliminary August reading on the overall index on consumer sentiment came in at 79.2, down from the preliminary 81.8 and below the market forecasted reading of 82.5.

The survey's barometer of current economic conditions rose to 99.6 from the prior reading of 97.4 in July and also from the 96.6 reading of the month of June.

Now the survey's barometer of current economic outlook plunged to 66.2 from the prior reading of 71.8 in July and also from the 73.5 reading of the month of June.

The survey's one-year inflation expectation changed slightly to 3.4 percent from the prior reading of 3.3 percent in July and also from the 3.1 reading of the month of June, while the survey`s five-year inflation outlook was rose slightly to 2.8 percent from 2.7 percent.

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Original headline: U.S consumer confidence weakened in August


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