2024-08-02 05:42:46
The US consumer confidence index fell to 66.4 in July from 68.2 a month earlier, according to the final report from the University of Michigan, which calculates the indicator.
As reported by Day.Az with reference to Interfax, it was previously reported that the index had fallen to 66 points. Experts surveyed by Trading Economics did not expect the preliminary assessment to be revised.
Despite the upward revision, the July reading is the lowest in 8 months.
In July 2023, the consumer confidence index stood at 71.5 points.
A sub-index of U.S. consumers’ attitudes toward their current financial situation fell to 62.7 this month from 65.9 in June. A measure of consumer expectations for the next six months fell to 68.8 from 69.6 last month.
Inflation expectations among the population for the coming year decreased in July to the lowest since March, 2.9% from 3% a month earlier; the long-term inflation estimate (5 years) remained at 3%.
The University of Michigan will release its preliminary August consumer confidence index on August 16.
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