Off the wire
• Hungary opens border crossing with Serbia for legal traffic  • Beijing ecstatic for winning 2022 Winter Olympics bid  • Singapore closely watching developments in Malaysia: FM  • Xinhua Insight: Language, cultural understanding key to Belt, Road Initiative  • Burundi's constitutional court endorses President Nkurunziza's re-election  • U.S. stocks open little changed amid data, earnings  • Police killing raises concern in S. Africa  • France's former Prime Minister Raffarin congrats Beijing on winning bid for 2022 Winter Games  • Kenya's Olympic champ Cheruiyot eyes gold in Beijing  • Senior leader urges long-term perspective in revising discipline code  
You are here: 　 Home

U.S. consumer sentiment declines in July

Xinhua, July 31, 2015 Adjust font size:

U.S. consumer sentiment declined in July affected by disappointing economic growth, the Thomson Reuters/University of Michigan index of consumer sentiment revealed on Friday.

The final reading of the consumer sentiment for July fell to 93.1 from 96.1 in June.

"A disappointing pace of economic growth was the main reason for the small decline in consumer confidence" said survey director Richard Curtin, adding "the data provide no indication of a break in the prevailing positive trend."

The sentiment index has averaged 94.5 since December 2014, the highest eight month average since 2014. "The maintenance of confidence at high levels during the past eight months has been mainly due to modestly positive news on jobs and wages," said Curtin.

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 107.2 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 84.1 from 87.8 in June. Endi