Consumer sentiment in the U.S. has unexpectedly seen a significant deterioration in the month of July, according to preliminary data released by the University of Michigan on Friday.
The report showed the consumer sentiment index slumped to 80.8 in July from 85.5 in June. The decrease surprised economists, who had expected the index to inch up to 86.5.
Surveys of Consumers chief economist Richard Curtin said the unexpected drop by the headline was largely due to less favorable prospects for the national economy, with the index of consumer expectations tumbling to 78.4 in July from 83.5 in June.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.