Consumer sentiment sank further in late July due to the continued resurgence of the coronavirus, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index was 72.5 in the July 2020 survey, down from 78.1 in June and well below last year’s 98.4. The Expectations Index fell to 65.9 in July, down from 72.3 in June, and substantially below last year’s 90.5. The Current Conditions Index was 82.8 in July 2020, down from 87.1 in June, and significantly below last July’s 110.7.
In the last four months, the Sentiment Index has remained trendless, averaging a decline of