Shoppers can’t beat the heat, but they are still fairly optimistic about the economy. The numbers: A measure of consumer confidence rose slightly in July and clung near a 15-year peak even in the face of rising economic headwinds that are likely to spur the Federal Reserve to cut interest rates in a few weeks. The consumer sentiment survey edged up to 98.4 this month from 98.2 in June, according to a preliminary reading from the University Michigan. Economists surveyed by MarketWatch had forecast a reading of 99.0.
Just a little over a year ago, the index touched 101.4 to mark the highest level since 2004. Read: Weak unions, globalization not to blame for shrinking slice of income pie for workers What happened: A gauge that measure what consumers think about their own financial situation and the current health of the economy slipped to 111.1 from 111.9. Yet another measure that asks about expectations for the next six months advanced to 90.1 from 8
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