Economy Watch Weekly: Consumers Less Certain About Economy

Economy Editor D.C. Stribling discusses the University of Michigan's latest survey of consumers, which recorded a decrease in confidence about future economic prospects.

CPERadioConsumer confidence in future economic prospects continued to slide in early July, according to the University of Michigan’s latest survey, with the Expectations Index now 10.1 points below the January 2017 peak. Despite this, consumers also reported feeling reasonably good about current economic conditions, with that index regaining its March 2017 peak, the highest level since July 2005. This data follows simialr patterns repeatedly recorded around past cyclical peaks, noted Chief Economic Richard Curtin. Does this mean a recession is looming? Economy Editor D.C. Stribling addresses this question and more, for the week ending July 21, 2017.