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U.S. Consumer Sentiment Extended Its Decline in Late July

Shoppers ride up an escalator at a mall in Syracuse, New York on July 10.
Shoppers ride up an escalator at a mall in Syracuse, New York on July 10.Photographer: Maranie Staab/Bloomberg

U.S. consumer sentiment extended its slide in late July as the resurgent coronavirus led to renewed business closings and layoffs, adding to signs the economic recovery is stalling.

The University of Michigan’s final sentiment index for July was 72.5, compared with a preliminary reading of 73.2 and June’s final reading of 78.1, according to data Friday. The median projection in a Bloomberg survey of economists called for 72.9. The latest figure is just above the eight-year low recorded in April.