Consumer Sentiment Eases Back

Consumer sentiment is easing back so far this month, to 97.1 which is down 1.1 points from June and near the bottom of Econoday's consensus range. The weakness is in the assessment of current conditions which is down 2.6 points to 113.9. Expectations are steady at 86.4. Trade war is in play, cited as a concern by 38 percent of the sample vs 21 percent in June and 15 percent in May. Yet levels in this report remain strong and continue to support expectations for solid summer growth in consumer spending.