US Consumer Sentiment Falls in 1st Week of July

Consumer sentiment waned slightly in early July, as Americans were more optimistic about current economic conditions than they have been in six years, but that was offset by a decline in confidence over the recovery’s prospects, a survey released on Friday showed.

The Thomson Reuters/University of Michigan’s preliminary reading on the overall index on consumer sentiment edged down to 83.9 from 84.1 in June, shy of forecasts for 85.

The barometer of current economic conditions accelerated to 99.7 from 93.8, the highest level since July 2007. But the gauge of consumer expectations slipped to 73.8 from 77.8.

While sentiment improved among lower income households, there was a decline in attitudes in those making more than $75,000 a year as more consumers worried about higher interest rates to come.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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