US Consumer Confidence SLUMPS To 72.0 (Exp. 73.5)

philadelphia consumer

Photo: Jeff Fusco/Getty Images


U.S. consumer confidence fell to its lowest level in more than six months, new data out of the University of Michigan shows.

The key consumer sentiment index fell 120 basis points to 72.0 in a preliminary July reading.

Economists polled by Bloomberg had forecast an improvement to 73.5.

Current economic conditions showed gains in July, hitting 83.2 in the Michigan survey. However consumer outlook fell, down to 64.8 from 67.8 a month earlier.

Below, a look at consumer confidence over the past 30 years.

Consumer Confidence

Photo: Eric Platt/Business Insider, Data: St. Louis Federal Reserve


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

Economists polled by Bloomberg forecast sentiment in the U.S. increased marginally from June’s lows, up 30 basis points to 73.5.

Estimates range from a low of 71.5 from J.P. Morgan’s Michael Feroli, to a high of 76.5 from PNC’s Stuart Hoffman.

The report is expected at 9:55 a.m.

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