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The Thomson Reuters/University of Michigan's
final July reading on the overall index on consumer sentiment
came in at 81.8, a touch below the 82.0 estimate and down from
the final June reading of 82.5.
"What has recently dominated the attention of consumers is job
and income growth," survey director Richard Curtin said in a
statement.
"Despite the recent improvement, consumers have yet to take
recent economic gains to indicate that more robust growth in
jobs and wages will be forthcoming."
The survey's barometer of current economic conditions rose to
97.4 from 96.6, compared with a forecast of 97.1.
The survey's gauge of consumer expectations fell for a third
straight month, to 71.8 from 73.5. The subindex was slightly
above an expected 71.5.
The survey's one-year inflation expectation edged up to 3.3
percent from 3.1 percent, while the survey's five-to-10-year
inflation outlook was at 2.7 percent, down from the prior
month's 2.9 percent.
(Reporting by Chuck Mikolajczak; Editing by Meredith Mazzilli)
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