US consumer confidence index fell in July lower than it was expected

The US consumer confidence index in July was 97.1 points, down from 98.2 points in June, preliminary data from the University of Michigan showed. The July value of the index became minimal since January. Experts had expected the decrease to 98 points. The attitude of US consumers to the current financial situation deteriorated to 113.9 points from 116.5 points in June. At the same time, the indicator that determines consumer expectations for the next six months rose to 86.4 points from 86.3 points. The outlook for the medterm dropped from 3% to 2.9%, in the long run - from 2.6% to 2.4%. Head of consumer surveys division at the University of Michigan, Richard Kurten, expressed the opinion that “the expected introduction of duties on Chinese goods can spur consumer fears.”

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