CONSUMER CONFIDENCE UNEXPECTEDLY FALLS IN JULY

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Michigan basketball player Spike Albrecht

REUTERS/Chris Keane

Michigan Wolverines guard Spike Albrecht reacts after a three point basket against the Louisville Cardinals during the first half of their NCAA men's Final Four championship basketball game in Atlanta, Georgia April 8, 2013.

Preliminary results from the University of Michigan's July consumer confidence survey are out.

The headline index fell to 83.9 from last month's 84.1 reading, missing consensus estimates for a rise to 84.7.

The economic conditions sub-index rose to 99.7 from 93.8, while the economic outlook sub-index fell to 73.8 from 77.8.

Inflation expectations one year ahead rose to 3.3% from 3.0%, while inflation expectations five years ahead were unchanged at 2.9%.



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