Consumers were a bit less optimistic in July than one month or one year ago, although consumer confidence remains at a reasonably high level, according to the University of Michigan (U-M) Surveys of Consumers.
The recent decline was due to rising concerns about prospects for the economy that were mainly expressed by upper income households, according to U-M economist Richard Curtin, who directs the Surveys. CONT.
Diane Swanbrow, U. of Michigan