Consumer sentiment on its 8 month nadir in the world’s largest economy

Consumer sentiment in July reached an 8 month nadir in the United States – the regular monthly survey of the Michigan University revealed. The preliminary results were published on Friday.

In July, the preliminary, estimated value of the consumer mood index dropped to 93.1 the lowest level of the last eight months, from the 95.1 points in June.

Analysts expected a final value of 95.0 points in July.

Among the sub-indices, the consumer expectations for the next six months declined from 83.9 of June to 80.2 in July, and the sub-index reflecting the current situation rose from 112.5 to 113.2 points. (MTI)