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U.S. consumer sentiment falls

Staff writer |
U.S. consumer sentiment fell in July as expectations for future spending dropped, the Thomson Reuters/University of Michigan index of consumer sentiment revealed.

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The preliminary reading of the consumer sentiment, which records the figure for the first half of a month, edged down to 81. 3 in June from 82.5 in the previous month, lower than the market average expectation of 83.

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, declined from 73.5 in June to 71.1 this month.

The index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, rose to 97.1 from 96.6 last month.

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