Preliminary results for July show the index improved considerably, building upon June’s gains.
Consumer sentiment rose for the second straight month, soaring 13% above June and reaching its most favorable reading since September 2021 according to the University of Michigan Surveys of Consumers. All components of the consumer sentiment index improved considerably, led by a 19% surge in long-term business conditions and 16% increase in short-run business conditions.
The Index of Consumer Sentiment stood at 72.6 in early July, up 12.7% from 64.4 in June and up 41% from 51.5 in July 2022.
Consumer sentiment is viewed as a leading
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