US consumer sentiment revised higher in July

(Sharecast News) - The University of Michigan's consumer sentiment index was revised up to 55.2 for July, from an initial reading of 54.0, marking its strongest level since February before the US‑Iran conflict pushed fuel prices higher. Sentiment improved across all demographic groups, and the five‑year outlook for business conditions hit a 12‑month high, though it remained well below long‑run norms.

Despite the upgrade, overall sentiment was still 11% lower than a year earlier, with households citing persistent concerns over elevated prices and the lingering impact of years of high inflation.

Year‑ahead inflation expectations eased to 4.2% from 4.6% in June, while long‑run expectations were unchanged at 3.3%.



Reporting by Iain Gilbert at Sharecast.com