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Tuesday, July 16, 2019 7:02:17 PM EDT

Mich Sentiment Updated 28-Jun-19 10:17AM ET

The final June reading for the University of Michigan Index of Consumer Sentiment increased to 98.2 ( consensus 97.9) from 97.9 in the preliminary reading. The June reading is down from 100.0 reported in May.

The Current Economic Conditions Index decreased to 111.9 from 112.5.

The Index of Consumer Expectations increased to 89.3 from 88.6.

The year-ahead inflation expectation remained at 2.6% reported in the preliminary reading.

The key takeaway from the report is that respondents did not expect a significant increase in interest rates while lower mortgage rates begun positively impacting purchases of homes.

Present conditions111.9110.0112.3113.3108.5