by Calculated Risk on 7/18/2014 09:55:00 AM

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The preliminary Reuters / University of Michigan consumer sentiment index for July was at 81.3, down from 82.5 in June.

This was below the consensus forecast of 83.0. Sentiment has generally been improving following the recession - with plenty of ups and downs - and a big spike down when Congress threatened to "not pay the bills" in 2011.