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U.S. consumer sentiment falls in early July

Xinhua, July 17, 2015 Adjust font size:

U.S. consumer sentiment fell in early July affected by international uncertainties, the Thomson Reuters/University of Michigan index of consumer sentiment revealed on Friday.

The preliminary reading of the consumer sentiment for July fell to 93.3 from 96.1 in June.

"The small loss in early July reflected a slight rise in concerns about international developments," said survey director Richard Curtin, adding there is "no indication of a potential break in the prevailing positive trend in sentiment."

"The July reading was the eighth month above 90, the best record since seventeen months were recorded from late 2003 to early 2005 during the last expansion," said Curtin, adding that consumption expenditures are expected to increase 3 percent this year.

The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, fell to 106 from 108.9 last month

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, decreased to 85.2 from 87.8 in June. Endi