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University of Michigan consumer confidence rises to 55.2 in July

The report also showed 1-year inflation expectations steady at 4.2%, after a 4.6% reading in the prior month.

Reported · Written up by our desk · Inflation

University of Michigan final data for July lifted consumer confidence to a sentiment index of 55.2, compared with 54.0 in the estimate, according to Forexlive. The prior month’s final level was 49.5.

The report said current conditions measured 54.8 versus 54.9 in the preliminary reading, while expectations came in at 55.4 versus 54.0 preliminary. Expectations were 50.7 in the prior month.

Forexlive also highlighted inflation expectations, with the 1-year measure unchanged at 4.2% versus the preliminary figure, down from 4.6% last month. Five-year inflation expectations were 3.3%, matching the preliminary reading and below the prior month figure of 4.6%.

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