Published: 2024-07-12T14:20:03.000Z
U.S. July Michigan CSI - Lower, as are inflation expectations
Senior Economist , North America
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July’s preliminary Michigan CSI showed a modest fall to 66.0 from 68.2, the lowest monthly reading since November 2023 though above the preliminary June reading of 65.6. Inflation expectations also fell, to 2.9% from 3.0% on both a 1-year and 5-10 year view.
This marks a fourth straight slowing and the decline appears to be on a loss of momentum in the economy given that worries on inflation appear to be fading.
Current conditions, to 64.1 from 65.9, and expectations, to 67.2 from 69.6, both declined.
Expectations are at their lowest since November but well above November’s 56.8. Current conditions however are at their lowest since December 2022.
