by Calculated Risk on 6/17/2011 09:55:00 AM

The preliminary June Reuters / University of Michigan consumer sentiment index declined to 71.8 from 74.3 in May.


Click on graph for larger image in graphic gallery.

In general consumer sentiment is a coincident indicator and is usually impacted by employment (and the unemployment rate) and gasoline prices. However, even with gasoline prices falling, consumer sentiment is mostly moving sideways at a low level.

This was below the consensus forecast of 74.0.