June Consumer Sentiment Drops to Six-Month Low

U.S. consumer sentiment dropped to a six-month low in June as Americans' view of the economy soured, a survey released on Friday showed.

U.S. consumer sentiment fell in early June to a six-month low on worries about deterioration in the jobs market and Europe's festering debt crisis, a survey released on Friday showed.

First Coverage submits: click to enlarge

Consumer sentiment dropped to 54.9 from 63.7 in July, according to preliminary University of Michigan/Thomson Reuters index released Friday. Consensus had expected a reading of 61. The consumer confidence gauge confirms my thesis, discussed here, that depressed investor, consumer and managerial sentiment in August would cause the economic data published in September to be horrible.

To the 'turning around' reports from the Eastern Front ca 1943... err... 2013... per KBC Ireland/ESRI Consumer Sentiment Index, consumer sentiment in Ireland fell in February to 59.4 compared to January reading of blistering 64.2. The report gets 'serious' on dynamics: "The three-month moving average also decreased from 59.3 to 57.8. The index fell below the average for the last 12 months (61.9)."

Reuters - Weak energy costs pushed U.S.

First Coverage submits: Let’s Celebrate the Fourth of July Every Week!click to enlarge

Sy Harding submits:The latest reports show the University of Michigan’s Consumer Sentiment Index rose in December to its most optimistic level since June.