US: Consumer Sentiment Index in July eases to 97.1 (preliminary) vs. 98.2 expected - UoM

"Consumer sentiment slipped in early July (97.1) but remained nearly equal to the average in the prior twelve months (97.7) and since the start of 2017 (97.4)," the University of Michigan said in its latest Survey of Consumers report.

Key quotes

  • The continuing strength has been due to favorable job and income prospects, with consumers under age 45 anticipating the largest income gains since July 2000.
  • The darkening cloud on the horizon, however, is due to rising concerns about the potential negative impact of tariffs on the domestic economy.
  • Negative concerns about the impact of tariffs have recently accelerated, rising from 15% in May, to 21% in June, and 38% in July.
  • While consumers may not understand the intricacies of trade theory, they have substantial experience making decisions about the timing of discretionary purchases based on prospective trends in prices. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.