The attitude of the consumer is tarnished in June, as U.S. consumer confidence slipped to a seven-month low, a new report showed on Friday, but still rising slightly above economists ‘ expectations.
U.S. consumer sentiment fell to 95.1 in June, a decline of 2.1 percent from may and the lowest level since November of 2016. Economists expected the measure the consumer attitudes continue to decline, 94.5, according to a survey by Thomson Reuters.
Consumer sentiment remained relatively the 0.1 point increase to stagnate in may to 97.1, from April. Thomson Reuters survey, economists expected the index to grow to 97.5 in may.
Still, consumer confidence holds at historic high half of 2017, stands in the first year. The first six months of the year, the highest average for the index since the second half of the year 2000, according to Richard Curtin, chief economist of the survey, in a press release.
While the uncertainty in the economy remains high, Curtin said it “has so far offset by the renewed strength in the personal financial situation of consumers.”
The monthly survey by the University of Michigan measures 500 consumer attitudes towards topics such as personal Finance, inflation, unemployment, the policy of the government and the interest rates.