Consumer Sentiment Jumped 10% in July Before Gas Price Hikes

Consumer sentiment improved by 10% in early July, marking the second consecutive month of 10% jumps, according to preliminary results for the month from the University of Michigan ’s Surveys of Consumers . The Index of Consumer Sentiment was gauged at 54.4, the highest reading since February’s 56.6. July’s improvement was driven by “easing price pressures at the pump in recent weeks,” Surveys of Consumers Director Joanne Hsu said in a press release.