Widget Image
Follow PPD Social Media
Follow Us:
Thursday, August 6, 2020
HomeNewsEconomyConsumer Sentiment ‘Trendless’, Ticks Down in July Amid Efforts to Pause Reopening

Consumer Sentiment ‘Trendless’, Ticks Down in July Amid Efforts to Pause Reopening

Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)

Shutdown Advocates Hurting Consumers, Faster Economic Recovery

Ann Arbor, Mich. (PPD) — The Survey of Consumers final reading on consumer sentiment fell from 78.1 in June to 72.5 in July, slightly missing beating the consensus forecast. Forecasts for the headline index ranged from a low of 71.0 to a high of 79.0, and the consensus forecast was 73.2.

Richard Curtain, the chief economist for the Survey of Consumers, said the Consumer Sentiment Index has remained “trendless” during the pandemic, though blamed the dip on the “resurgence of the coronavirus.” However, the blame lays with the pausing of reopening state economies, as the greater evidence from data indicators clearly demonstrates.

The Current Economic Conditions Index fell from 87.1 in June to 82.8 in July. The Expectations Index fell from 72.9 to 65.9 in July, tied with the six-year low recorded in May.

The Conference Board Consumer Confidence Index (CCI) also fell in July, down 5.7 points after gaining significantly in June, missing economists’ expectations. The Index now stands at 92.6 (1985=100), down from an upwardly revised reading of 98.3 in June.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial