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University of Michigan preliminary sentiment for July 72.6 versus 65.5 estimate
University of Michigan consumer sentiment preliminary data for July 2023 • Prior month 64.4 • current conditions at 77.5 versus 70.4 estimate and 69.0 last month • expectations 69.4 versus 61.8 estimate and 61.5 last month • one year inflation it rises to 3.4% from 3.3% last month • 5 year inflation expectations rises to 3.1% from 3.0% last month
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US: UoM Consumer Confidence Index improves to 72.6 in July vs. 65.5 expected
UoM Consumer Confidence Index rose more than expected in July. US Dollar Index clings to modest recovery gains at around 100.00. Consumer sentiment in the US continued to improve in early July, with the University of Michigan's (UoM) Consumer Confidence Index rising to 72.6 from 64.4 in June. This reading came in better than the market expectation of 65.5. Further details of the publication revealed that the Current Conditions Index rose to 77.5 from 69.0 and the Expectations Index climbed to 69.4 from 61.5. The one-year inflation outlook edged higher to 3.4% from 3.3% while the 5-year inflation outlook ticked up to ... (full story)
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UMich Inflation Expectations Unexpectedly Rebounded In July; Democrats' Confidence At 2-Year Highs
The once-must-watch inflation expectation signal from UMich's sentiment survey unexpectedly rebounded higher in preliminary July data - with expectations for the next year up from 3.3% to 3.4% (notably above the expected drop to 3.1%). Expectations for longer-term inflation also rise... chart Headline confidence was expected to rise in the preliminary July data and it did bigly... Sentiment rose to its highest since Sept 2021 at 72.6 with both current and expectations indices soaring... chart “The sharp rise in sentiment was largely attributable to the continued slowdown in inflation along with stability in ... (full story)
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