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7/13, 4:09 PM (Source: TeleTrader.com)
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Consumer enthusiasm in US weakens in July

A deterioration in the perception of current economic conditions pushed the main United States consumer morale indicator lower, while one-year inflation expectations slipped to 2.9% from 3%, the highest point since March 2015, according to the result of a monthly survey conducted by the University of Michigan. The flash update for July, published on Friday, put the headline confidence index at 97.1 points, down 1.1 from the previous print and the lowest reading since January, but 3.7 points higher than one year before.

The forward-looking subindex moved just 0.1 points up to 86.4, which was 5.9 points stronger than 12 months ago. The other component diverged, falling 2.6 points to get to 113.9. Twelve months before, the gauge was at 113.4 points. The outlook for the five-year inflation rate was cut by 0.2 percentage points to 2.4%, the lowest point since December.

Respondents younger than 45 years forecast the largest income gains since July 2000, said Richard Curtin, the project's chief, and highlighted the negative impact of the trade war.

Breaking the News / IT