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Updated:
7/30/2010 11:00:00 AM
Consumer Confidence Falls in July
Consumer confidence fell this month to the lowest level since November, according to the latest Reuters/University of Michigan monthly consumer sentiment index released Friday.
The final index for the month dropped to a 67.8 reading, from 76 in June.
The reading was slightly higher than economists’ forecasts of a 67 reading, Bloomberg reported. The preliminary reading was 66.5.
An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.
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