US consumer sentiment falls to 7-month low

Assessments of personal finances dipped due to rising concerns over high prices, weakening incomes, says survey director

By Ovunc Kutlu

ISTANBUL (AA) - US consumer sentiment declined in June to reach its lowest level in seven months, according to preliminary results from the University of Michigan's consumer survey released Friday.

The index of consumer sentiment dove 3.5 points to 65.6 in June, the lowest level since November, from 69.1 in May.

The market expectation for the index was to come in at 72.1.

"Assessments of personal finances dipped, due to modestly rising concerns over high prices as well as weakening incomes," Surveys of Consumers Director Joanne Hsu said in a statement.

Year-ahead inflation expectations, on the other hand, remained unchanged at 3.3% this month.

Long-run inflation expectations, meanwhile, slightly rose to 3.1% this month, up from 3% in May, according to the survey.

Kaynak:

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