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Consumer sentiment slips in July, hampered by concerns over trade dispute

Friday, Jul 27 2018
Consumer sentiment slips in July, hampered by concerns over trade dispute

U.S. consumer sentiment slipped last month, pressured by rising fears over the repercussions of escalating tariffs. Sentiment among consumers fell to 97.9 in July from 98.2 in June, according to the University of Michigan's monthly survey of consumers. The decline resulted from fears over the impact of tariffs on the domestic economy.

"Resolution is critical to forestall decreases in consumer discretionary spending as a precaution against a worsening economy," said Chief Economist for The University of Michigan's survey Richard Curtin. An end to the trade war would be necessary to encourage consumers to participate in the economy, he added. Still, the survey's print topped expectations of 97.1 by economists polled by Reuters.

More in this category: « US GDP grew by 4.1% in Q2 China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll »

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