US consumer sentiment drops in June
US consumer sentiment fell in June, according to a final reading from the University of Michigan.
The index of consumer sentiment fell to 95.1 from 97.1 in May, but was up from last June's reading of 93.5.
Meanwhile, the current economic conditions index rose to 112.5 this month from 111.7 in May and 110.8 in June 2016. The index of consumer expectations fell to 83.9 from 87.7 in May but rose from 82.4 in June last year.
Surveys of Consumers chief economist Richard Curtin said: "Although consumer confidence slipped to its lowest level since Trump was elected, the overall level still remains quite favourable. The average level of the sentiment index during the first half of 2017 was 96.8, the best half-year average since the second half of 2000, and the partisan gap between Democrats and Republicans stood at 39 Index-points in June, nearly identical to the 38 point gap in February.
"The partisan divide still meant that June's sentiment index of 95.1 was nearly equal to both the average (95.7) between the optimism of Republicans and the pessimism of Democrats and the value for Independents (94.6)."