The Consumer Confidence Index of the University of Michigan Exceeds Expectations

The second and final reading of the University of Michigan Consumer Confidence Index for July was 97.9 versus 97.1 in the previous Preliminary Reading, and the current reading is better than predictions of stability of expansion, In the previous preliminary reading.

The dollar index, reflecting the greenback's performance against seven major currencies, was down 0.12% to stand at 94.67, compared to opening at 94.78, after hitting a lowest of 94.62, while reaching its highest at 94.79.

The sub-index of the index showed that the economic situation in July had fallen to 114.4 against 116.5 in June, while the economic forecasts indicated a rise to 87.3 against 86.3 in June. The past

Sub-indices have also been released against the expected inflation in one year and five years, inflation expectations to one year falling from 3.0% in June to 2.9% and inflation expectations at 2.4%.