Keeping you up to date on the latest data releases.
Final numbers show that the University of Michigan’s Index of Consumer Sentiment has risen to 85.1 from the preliminary number (83.9) posted earlier in July. The Index of Consumer Expectations contributed to the intramonth gain with a revision of 76.5, up from 73.8. July’s final reading was revised up from the preliminary report and this revision brings the index to its highest level in six years.
As for inflation expectation revisions, consumers now expect a year-ahead inflation rate of 3.1 percent (down from 3.3 percent) and a longer-term (five- to ten-year) rate of 2.8 percent (down from 2.9 percent).