by Calculated Risk on 7/12/2013 10:05:00 AM

Click on graph for larger image.

The preliminary Reuters / University of Michigan consumer sentiment index for July decreased slightly to 83.9 from the final June reading of 84.1.

This was below the consensus forecast of 84.1. Sentiment has generally been improving following the recession - with plenty of ups and downs - and one big spike down when Congress threatened to "not pay the bills" in 2011.  Note: Congress is starting to make threats again, luckily this only happens in non-election years.