India, July 18 -- After reporting a substantial rebound by U.S. consumer sentiment in the previous month, the University of Michigan released a report on Friday showing a more modest improvement by consumer sentiment in the month of July.
The University of Michigan said its consumer sentiment index climbed to 61.8 in July after surging to 60.7 in June. Economists had expected the index to rise to 61.5.
With the slightly bigger than expected increase, the consumer sentiment index reached its highest level since hitting 64.7 in February.
"While sentiment reached its highest value in five months, it remains a substantial 16% below December 2024 and is well below its historical average," said Surveys of Consumers Director Joanne Hsu.
She ad...