Index slightly up from June. Consumers may bring forward durable goods purchases to avoid price increases.
Consumer sentiment was relatively unchanged in early July, remaining near all-time lows according to the preliminary University of Michigan Surveys of Consumers report released this morning. The Index of Consumer Sentiment stood at 51.1 for July, up 2.2% from 50.0 in June, but down 37.1% from 81.2 in July 2021. Consumer sentiment is viewed as a leading indicator of economic activity.
According to Surveys of Consumers Director Joanne Hsu, current assessments of personal finances continued to deteriorate, reaching its lowest point since 2011.
Buying conditions
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.