WASHINGTON (MarketWatch)
Despite a slight upward revision from
the preliminary report, a gauge of consumer sentiment in July came in at the
lowest point of the year, according to an indicator released Friday
The University of Michigan-Thomson Reuters final reading of consumer
sentiment reached 72.3, up from an initial read of 72 but below the 73.2 of May
The index of consumer expectations dropped to 65.6 from 67.8 in June, but the current-conditions index rose to 82.7 from 81.5, which the pollsters attributed to greater price discounting on durable goods
Nearly half of all consumers reported in July that their finances had recently worsened, the report said
“Consumers expect continued economic stagnation since they believe that current economic policies are incapable of solving the problems facing the economy,” said Richard Curtin, the chief economist for the surveys of consumers
Earlier, the Commerce Department reported that growth in the April-to-June period slowed to 1.5%, and there’s little indication of any improvement in the near term
While consumers are seeing relief at the pump, there’s now concern about food prices
Only 10% expect inflation-adjusted gains in their incomes in the next year, the report said
The index, which isn’t seasonally adjusted, hasn’t been above 80 since the recession. It was as high as 96.9 in July 2007
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La OMB se refirió a los recortes de 1,2 billones de dólares, buena parte de ellos al Pentágono, que formaron parte de las negociaciones de agosto de 2011 entre el Congreso y la Casa Blanca para elevar el techo de la deuda nacional.
Esos recortes "tendrán efectos destructivos tanto en programas de defensa como en programas y servicios no relacionados a defensa"
“While consumers expressed greater optimism about short-term business and employment prospects, they have grown more pessimistic about their earnings,” said Lynn Franco, director of economic indicators at the Conference Board
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