- The final score for July was 66.4.
- Current conditions 60.9 vs. 62.7 previously
- Expectations 72.1 vs. previous 68.8
- Inflation over one year 2.9% vs. 2.9% in the previous year
- Inflation over 5-10 years 3.0% vs. 3.0% previously
- Overall, expectations for both personal finances and the economic outlook over the next five years strengthened (highest reading in four months).
Yesterday’s retail sales report was strong, and Walmart executives repeatedly described the consumer as stable and resilient, so I have a hard time putting any weight on this survey, which has more to do with politics and gas prices than consumer spending. Along those lines, the survey indicated:
With election developments dominating the headlines this month, Democratic sentiment rose 6% in the wake of Harris replacing Biden as the Democratic presidential nominee. For Republicans, sentiment moved in the opposite direction, falling 5% this month.
Inflation figures are stable, although they are still higher than pre-pandemic rates.
This article was written by Adam Bouton on www.forexlive.com.