Consumer Sentiment Slips in Final July Reading

Ann Arbor, MI, July 27, 2009–The Reuters/University of Michigan Surveys of Consumers said its final July consumer sentiment reading fell to 66 from June’s 70.8, though it was slightly higher than economists’ median expectation for a reading of 65, according to a Reuters poll.

The index of consumer expectations fell to 63.2 in July’s final reading, from 69.2 in June.

“Consumers believe that the economic free-fall is now over, but consumers see little reason to believe the stimulus policies will improve their financial condition any time soon,” the Reuters/University of Michigan Surveys of Consumers said in a statement.

For the long term, 58 percent of respondents said they anticipated bad times, up from 49 percent in May.