U.S. consumer sentiment improved slightly in July, holding close to the best level in more than a decade as more Americans grew optimistic about their future financial prospects.
The University of Michigan’s preliminary sentiment index edged up to 98.4 from 98.2 in June, according to data released Friday that were about in line with forecasts. The gauge has held within a 2.8-point range for the past five months. The expectations index climbed slightly while the gauge of current conditions cooled.
“ Favorable trends in personal finances remained widespread,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement. “These favorable financial expectations were supported by gains in household incomes and wealth.”
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.