US: Consumer confidence remained largely unchanged - UoM

Eren Sengezer FXStreet

"Consumer confidence remained largely unchanged at the same favorable level recorded at mid-month," the University of Michigan announced on Friday after revealing that the preliminary reading for the Index of Consumer Sentiment improved to 93.4 in July from 93.1.

Key quotes:

The overall Sentiment Index has declined by 5.1 Index-points since the January peak, which was the highest figure in a dozen years
The relatively small decline still left the Sentiment Index higher in the first seven months of 2017 than in any other year since 2004
The Expectations Index fell from 90.3 in January to a still positive 80.5 in July; if it continues to decline by another 10 points in the second half of 2017, the loss would become more worrisome

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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