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7/17, 4:02 PM (Source: TeleTrader)
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US consumer confidence falls in July

Consumer Sentiment Index in the United States decreased by 6.27% to 73.2 points in July compared to June, according to the final report published by the University of Michigan on Friday. The index significantly failed the estimations which suggested the confidence would grow.

Current Economic Conditions Index fell by 3.33% to 84.2 from the previous month, while the Index of Consumer Expectations went down by 8.4% month-on-month to 66.2.

"Unfortunately, there is little time left on the political calendar for Congress to act as the election season is about to begin in earnest. Without action, another plunge in confidence and a longer recession is likely, " Surveys of Consumers Chief Economist Richard Curtin said in the report.

Breaking the News / TF