US consumer sentiment in June revised up from 7-month low

Consumers exhibited confidence inflation will continue to moderate, says survey director

By Ovunc Kutlu

ISTANBUL (AA) - US consumer sentiment saw an upward revision in June when it fell to the lowest level in seven months, according to final results from the University of Michigan's consumer survey released on 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 preliminary results showed two weeks ago.

The index, however, was revised up to 68.2 for this month, final results of the survey showed.

"While consumers exhibited confidence that inflation will continue to moderate, many expressed concerns about the effect of high prices and weakening incomes on their personal finances," Surveys of Consumers Director Joanne Hsu said in a statement.

Year-ahead inflation expectations, on the other hand, fell from 3.3% last month to 3.0% this month.

Long-run inflation expectations came in at 3% for the third consecutive month.

Kaynak: