Preliminary results show improvement over June but index remains below year ago levels.
The Index of Consumer Sentiment was up just over one index point from June according to the University of Michigan Surveys of Consumers. The preliminary July result of 61.8 was up 1.1 points, or 1.8%, from 60.7 in June. The preliminary July result, its highest value in five months, is 6.9% below July 2024 index of 66.4 for the full month.
Consumer sentiment is considered a leading indicator of economic activity. Sentiment levels can also impact consumer’s willingness to make large purchases such as automobiles.
The consumer
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