U.S. Consumer Sentiment Expected to Improve in July but Stay at Historically Low Levels

The University of Michigan is set to release its preliminary July Consumer Sentiment Index. Analysts expect the gauge to rise further from the previous month, but the index is still projected to stay near historically low levels.

The data provides an early read on consumer confidence for the month. Sentiment has been under pressure from persistent inflation and elevated interest rates, though recent declines in gasoline prices and a resilient labor market may be offering some support.