Consumer Sentiment Declines in Early July

Ann Arbor, MI, July 15, 2011 -- Consumer sentiment fell to 63.8 in early July, reaching the lowest level since March of 2009, according to the Reuters/University of Michigan index released Friday.

The previous reading was 71.5 in June.

Economists had expected the barometer to tick down to 71.3.

The sentiment reading, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the start of the most recent recession.