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Preliminary results presented by Thomson-Reuters and Institute of Michigan, revealed: the mood among US consumers have deteriorated significantly in July, beating analysts' estimates, and reached its lowest level since March of this year.
According to the data, consumer sentiment index fell to 89.5 points compared with a final reading of 93.5 points in June. According to average estimates, the index should remain at the level of 93.5 points. Recall, this figure represents the results of a consumer survey on the subject of confidence in the current economic situation. The survey involved 500 respondents. With the help of this report, it appears the desire of consumers to spend their money. The index is a leading indicator of consumer sentiment. The indicator is calculated by adding 100 to the difference between the number of optimists and pessimists, expressed as a percentage.
Also presented in the report the results of studies have shown:
Index of 12-month inflation expectations in July was + 2.8% vs. + 2.6% in June
Index of 5-year inflation expectations in July, 2.6% against 2.6% in June
Preliminary expectations index in July fell from 82.4 to 77.1 (lowest from September 2014). The forecast was at 83.0
Preliminary current conditions index in July fell to 108.7 from 110.8 in June. It was expected to decline to 109.9
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