Consumer Sentiment Up for the Second Straight Month, but Not by Much

The consumer sentiment index indicated a second consecutive month in the rise of consumer sentiment, per the University of Michigan’s closely watched survey of consumers.

Consumer sentiment rose 1.6% in July from 60.7 in June to 61.7—the second consecutive month of increases, according to the latest report. Year-over-year, consumer sentiment was down 7.1% from 66.4 in July 2024.

Joanne Hsu, director of the Surveys of Consumers at University of Michigan, explained that there is still uncertainty, given the changes in economic policy.

“This month’s median is below the peak reading from mid-2022, but the three-month-moving average is currently above mid-2022,” Hsu said. “Expectations exhibit substantial uncertainty, particularly in light of…