Consumer confidence in US exceeds expectations in July

By Sevgi Ceren Gokkoyun and Gokhan Ergocun

The consumer confidence index in the US rose by 1.1 points to 61.8 in July, exceeding market expectations.

The University of Michigan announced preliminary data for July on its consumer confidence index, which is based on the trends of American consumers.

The consumer confidence was expected to reach 61.4 during this period; the index was 60.7 in June.

The current economic conditions index rose by two points on a monthly basis to 66.8 in July.

The consumer expectations index also rose by 0.5 points to 58.6 during the same period.

- Inflation expectations at five-month low

Consumers' short-term inflation expectations fell from 5% to 4.4% in July.

Long-term inflation expectations also fell from 4% to 3.6%.

Thus, short- and long-term inflation expectations recorded their lowest levels since February.

Although consumer inflation expectations declined, they remained above December 2024 levels, indicating that there is still a significant perception of risk that inflation will increase in the future.