Weaker Prospects for Incomes Weigh on U.S. Consumer Sentiment

Less enthusiasm about prospects for the U.S. economy and personal finances sent consumer sentiment to a nine-month low in July, survey data from the University of Michigan showed Friday.

While 51 percent -- matching the largest share since November 2000 -- of consumers indicated that their finances had improved recently, households were wary about their prospects. The proportion that anticipated financial gains in the coming year dropped to 34 percent in July from 42 percent a month earlier.