Consumer sentiment in the U.S. deteriorated by much more than anticipated in the month of June, according to a report released by Thomson Reuters and the University of Michigan on Friday, with the drop likely reflecting the disappointing jobs data.
The report showed that the consumer sentiment index fell to 74.1 in June from the final May reading of 79.3. Economists had expected the index to show a more modest decrease to a reading of 77.5.
The bigger than expected pullback by the index came after it reached its highest level since October of 2007 in the previous month.
by RTT Staff Writer
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