By Doug Short (Guest Post)
The University of Michigan Consumer Sentiment Index final report for July came in at 63.7, a drop from the 71.5 June final number but only 0.1 below the July preliminary reading of 63.8. The Briefing.com consensus expectation had been for 63.8 and Briefing.com’s own forecast was for an even more depressing 62.5. The July final is the lowest since March 2009. See the chart below for a long-term perspective on this widely watched index. Because the sentiment index has trended upward since its inception in 1978, I’ve added a linear regression to help understand the pattern of…
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