Updated: 16-Jul-21 10:21 ET

July Univ. of Michigan Consumer Sentiment - Prelim

Updated: 16-Jul-21 10:21 ET

Highlights

• The preliminary July reading for the University of Michigan Index of Consumer Sentiment slipped to 80.8 (Briefing.com consensus 86.3) from the final reading of 85.5 for June.
• This is the lowest reading since February and compares to the 99.3 reading seen in July 2020.

Key Factors

• The Current Economic Conditions Index dipped to 84.5 from 88.6.
• The Index of Consumer Expectations dropped to 78.4 from 83.5.
• The expected year-ahead inflation rate moved up to 4.8% from 4.2% in June while the 5-10 year expected inflation rate moved to 2.9% from 2.8%.

Big Picture

• The key takeaway from the report is the understanding that consumer sentiment declined as consumers' inflation expectations rose.

Category	JUL	JUN	MAY	APR	MAR
Sentiment	80.8	85.5	82.9	88.3	84.9
Outlook	78.4	83.5	78.8	82.7	79.7
Present conditions	84.5	88.6	89.4	97.2	93.0