Economic Buzz: US Consumer Sentiment Rebounds In July

1 Aug 2022 , 08:54 AM

The University of Michigan released revised data showing consumer sentiment in the U.S. rebounded by slightly more than initially estimated in the month of July. The report showed the consumer sentiment index for July was upwardly revised to 51.5 from the preliminary reading of 51.1. The modest rebound by the headline index came as the current economic conditions index climbed to 58.1 in July from 53.8 in June. On the other hand the index of consumer expectations edged down to 47.3 in July from 47.5 in June. One-year inflation expectations dipped to 5.2 percent in July from 5.3 in June, while five-year inflation expectations slipped to 2.9 percent from 3.1 percent. Powered by Commodity Insights