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Consumer Confidence Drops in June

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7/1/2011 10:10:00 AM

Consumer confidence fell in June, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The final index for the month fell to 71.5 from 74.3 in May, the survey said. The preliminary index, released earlier in June, was 71.8.

The reading came in below economists’ median forecast of a 72 reading, Bloomberg reported.

The index averaged a reading of 89 in the five years leading up to the recession at the end of 2007.

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