US consumer sentiment rises to highest level in 6 years in July
NEW YORK (REUTERS) - US consumer sentiment rose in July to the highest level in six years as Americans felt better about the current economic climate, though they expected to see a slower rate of growth in the year ahead, a survey released on Friday showed.
The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment climbed to 85.1 from 84.1 in June, topping expectations for 84.
It was the highest level since July 2007 and was also an improvement from July's initial reading of 83.9.
"This high level of confidence points toward a continued expansion of consumer spending in the year ahead," survey director Richard Curtin said in a statement.