U.S. consumer sentiment fell 1.1 points to 97.1 in the July preliminary print
U.S. consumer sentiment fell 1.1 points to 97.1 in the July preliminary print from the University of Michigan survey, weaker than expected, after inching up 0.2 points to 98.2 in June. This is the lowest reading since the 95.7 in January. It was at 93.4 last July. The 101.4 in March which was the highest going back to the 103.8 from January 2004. The weakness was in the current conditions index which declined 2.6 points to 113.9 after jumping 4.7 points to 116.5. The expectations index inched up to 86.4 in July following the 2.8 decline to 86.3 in June. The 12-month inflation index dipped back to a 2.9% rate after rising to 3.0% in June. The 5-year inflation index slowed to 2.4% after rising to 2.6% in June.