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Consumer Confidence Drops to Lowest Level This Year


7/13/2012 10:45:00 AM
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Consumer confidence dropped in July to the lowest level this year, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The preliminary index for the month fell to a reading of 72, from 73.2 in June.

Economists had predicted a rise to 73.5, Bloomberg reported.

The survey’s index of current conditions asks Americans if they are better off than they were a year ago and if it’s a good time to buy big-ticket items.

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