Consumer Sentiment For July Down Slightly From June

Consumer sentiment ends July at 97.9 which is down 3 tenths from June but more immediately is up 8 tenths from the mid-month flash to imply a reading over the last two week closer to 99. Expectations, which sank during the trade-war build up in June, bounced 1.0 point higher in July to 87.3. Current conditions, however, slipped back 2.1 points to 114.4 in what may hint at less robust consumer spending in July.

A major positive in the report is a decrease in price data, a relief following the price surge in this morning's GDP report. Year-ahead inflation expectations are down 1 tenth from June to 2.9 percent with the 5-year rate down 2 tenths to 2.4 percent.

This is good report pointing to a healthy consumer who, unlike Federal Reserve policy makers perhaps, is not concerned about inflation.