Consumer Confidence Remains At Lowest Levels Of The Year

Shoppers Retail Sales Economy Consumer New YorkShoppers walk down Broadway in Manhattan.

Photo: Mario Tama/Getty Images

UPDATE:U.S. consumer sentiment remained at its lowest level of the year, even as it improved 30 basis points to 72.3, new data out of the University of Michigan shows.

Economists polled by Bloomberg had forecast a preliminary reading of 72.0 to hold.

Of those surveyed, outlook for future conditions brightened somewhat from earlier this month. 

Nonetheless, expectations for future conditions remained depressed from June levels, sitting at a seven month low. 

SEE ALSO: The 16 biggest layoffs of the year >


Minutes away from the final data point of the week: July’s University of Michigan Consumer Confidence reading.

Economists polled by Bloomberg expect a preliminary reading of 72.0 to hold, which would be the lowest reading since the year began.

The report is due out at 9:55 a.m.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.