Dim Expectations Send U.S. Consumer Sentiment to Nine-Month Low

Weaker expectations about personal finances helped drive U.S. consumer optimism this month to the lowest level since October, University of Michigan preliminary survey data showed Friday.

While 51 percent of respondents, the largest share in almost 17 years, reported that their finances improved in July, a gauge of expectations about their financial well-being slumped by 10 points to 122. That was the weakest since August of last year.