Consumer Sentiment Falls To 2012 Low

(Reuters) – Consumer sentiment fizzled in July, falling to its lowest level of the year, as Americans took a dim view of the employment situation and their income prospects, a survey showed on Friday.

The Thomson Reuters/University of Michigan‘s final reading on the overall index on consumer sentiment fell to 72.3 from 73.2 in June. It was the second month in a row attitudes have soured and the lowest level since December.

But the level was a touch higher than economists’ expectations for it to be unchanged from July’s preliminary reading of 72.

“While consumers do not anticipate an economy-wide recessionary decline, they do not expect a pace of economic growth that could satisfactorily revive job and income prospects,” survey director Richard Curtin said in a statement.

Read more: http://www.reuters.com/article/2012/07/27/us-usa-economy-sentiment-idUSBRE86Q0T620120727

Gas Price To Drop As Oil Joins Commodities Plunge

Looks like the bubble may have burst!

NEW YORK (AP) — Investors finally hit the brakes on oil, gold, silver and food prices. This week’s sharp sell-off doesn’t mean commodity prices’ stunning rise over the last several months is over, but it is good news for anyone planning a road trip this summer…. http://www.delcotimes.com/articles/2011/05/06/business/doc4dc47999345c8310148389.txt?viewmode=fullstory