FOREX TradingCharts.com

Financial News: U.S. Consumer Sentiment Unexpectedly Deteriorates In July

U.S. Consumer Sentiment Unexpectedly Deteriorates In July

07/17/2020 - 10:24:00 (RTTNews)

(RTTNews) - Reflecting the widespread resurgence of the coronavirus, the University of Michigan released a report on Friday showing an unexpected deterioration in U.S. consumer sentiment in the month of July.

The preliminary report said the consumer sentiment index tumbled to 73.2 in July after jumping to 78.1 in June. The pullback surprised economists, who had expected the index to inch up to 79.0.

With the unexpected decrease, Surveys of Consumers chief economist Richard Curtin noted the index is "insignificantly" above the nearly nine-year low set in April.

"Following the steepest two-month decline on record, it is not surprising that consumers need some time to reassess the likely economic impact from the coronavirus on their personal finances and on the overall economy," Curtin said.

He added, "Unfortunately, declines are more likely in the months ahead as the coronavirus spreads and causes continued economic harm, social disruptions, and permanent scarring."

The unexpected drop by the headline index partly reflected concerns about the economic outlook, as the index of consumer expectations slumped to 66.2 in July from 72.3 in June.

The current economic conditions index also showed a notable decrease, slid to 84.2 in July from 87.1 in June.

Meanwhile, the report said one-year inflation expectations inched up to 3.1 percent in July from 3.0 percent in June and five-year inflation expectations rose to 2.7 percent from 2.5 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Portugal Q2 GDP Decline Revised To 16.3% (27 min(s), 18 sec(s) ago)
(RTTNews) - Portugal's economy contracted slightly less than initially estimated, but the rate ...Full Story»

Dutch GDP Falls Most On Record On Covid-19 Impact (40 min(s), 18 sec(s) ago)
(RTTNews) - The Netherlands' economy shrank at a record pace in the second quarter and entered ...Full Story»

Slovakia Economy In Recession In Q2 (56 min(s), 18 sec(s) ago)
(RTTNews) - Slovakia's economy shrank further in the second quarter amid the disruption caused ...Full Story»

U.S. Business Inventories Slump Slightly Less Than Expected In June (01 hr(s), 59 min(s), 18 sec(s) ago)
(RTTNews) - Business inventories in the U.S. showed a continued decrease in the month of June, acc ...Full Story»

U.S. Consumer Sentiment Unexpectedly Edges Higher In August (02 hr(s), 17 min(s), 18 sec(s) ago)
(RTTNews) - A preliminary reading released by the University of Michigan on Friday unexpectedly sh ...Full Story»

Finland Economy Sinks Into Deep Recession (02 hr(s), 40 min(s), 18 sec(s) ago)
(RTTNews) - Finland's economy shrank for a third consecutive quarter in the three months to Ju ...Full Story»

U.S. Industrial Production Growth Slows But Matches Estimates (02 hr(s), 38 min(s), 18 sec(s) ago)
(RTTNews) - Reflecting sharp increases in manufacturing and utilities output, the Labor Department ...Full Story»

U.S. Productivity Spikes In Q2 As Hours Plummet More Than Output (02 hr(s), 46 min(s), 18 sec(s) ago)
(RTTNews) - Labor productivity in the U.S. soared by much more than expected in the second quarter ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Portugal Q2 GDP Decline Revised To 16.3%

08/14/2020 - 12:01 PM (RTTNews)
(RTTNews) - Portugal's economy contracted slightly less than initially estimated, but the rate ...Full Story>>

Dutch GDP Falls Most On Record On Covid-19 Impact

08/14/2020 - 11:48 AM (RTTNews)
(RTTNews) - The Netherlands' economy shrank at a record pace in the second quarter and entered ...Full Story>>

Slovakia Economy In Recession In Q2

08/14/2020 - 11:32 AM (RTTNews)
(RTTNews) - Slovakia's economy shrank further in the second quarter amid the disruption caused ...Full Story>>

U.S. Business Inventories Slump Slightly Less Than Expected In June

08/14/2020 - 10:29 AM (RTTNews)
(RTTNews) - Business inventories in the U.S. showed a continued decrease in the month of June, acc ...Full Story>>

U.S. Consumer Sentiment Unexpectedly Edges Higher In August

08/14/2020 - 10:11 AM (RTTNews)
(RTTNews) - A preliminary reading released by the University of Michigan on Friday unexpectedly sh ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.