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Friday, July 16, 2010

Reuters University of Michigan's Consumer Sentiment drops sharply in July

by Calculated Risk on 7/16/2010 10:01:00 AM

From Reuters: Consumer Sentiment Sinks To Lowest in 11 Months

The survey's preliminary July reading on the overall index on consumer sentiment plummeted to 66.5 from 76.0 in June.

The figure was below the median forecast of 74.5 among economists polled by Reuters.
Consumer Sentiment Click on graph for larger image in new window.

Consumer sentiment is a coincident indicator - and this is further evidence of an economic slowdown.

Interesting - the survey's one-year inflation expectations increased to 2.9% even as measured inflation has been falling.