Consumer Confidence Declines in July

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

The month’s preliminary index fell to a reading of 83.9 from 84.1 in June.

The reading was lower than economists’ median forecast of 84.7, Bloomberg News reported.

The index averaged 64.2 during the recession that ended in June 2009 and 89 in the five years prior to that.