July 28, 2023
(press release)
–
Final Results for July 2023 Read our July 21st report, Stock Ownership and Stock Price Expectations. Year-ahead inflation expectations were little changed, inching up from 3.3% in June to 3.4% in July. The current reading is well below the high point of 5.4% from April 2022 but remains above the 2.3-3.0% range seen in the two years prior to the pandemic. Long-run inflation expectations were unchanged from June at 3.0%, again staying within the narrow 2.9-3.1% range for 23 of the last 24 months.
Jul
Jun
Jul
M-M
Y-Y
2023
2023
2022
Change
Change
Index of Consumer Sentiment
71.6
64.4
51.5
+11.2%
+39.0%
Current Economic Conditions
76.6
69.0
58.1
+11.0%
+31.8%
Index of Consumer Expectations
68.3
61.5
47.3
+11.1%
+44.4%
Next data release: Friday, August 11, 2023 for Preliminary August data at 10am ET
Surveys of Consumers Director Joanne Hsu
Consumer sentiment rose for the second straight month, soaring 11% above June and reaching its most favorable reading since October 2021. All components of the index improved considerably, led by a 18% surge in long-term business conditions and 14% increase in short-run business conditions. Overall, the sharp rise in sentiment was largely attributable to the continued slowdown in inflation along with stability in labor markets. However, sentiment for lower-income consumers fell. This group anticipates that inflation and their income prospects will both worsen in the year ahead, highlighting the heterogeneity of views across the population.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
