U.S. consumer sentiment came in slightly below expectations at 93.1, the Survey of Consumers said Friday. (Tweet This)
"A disappointing pace of economic growth was the main reason for the small decline in consumer confidence," Surveys of Consumers Chief Economist Richard Curtin, said in a release.
The July reading was the lowest since May.
"Nonetheless, the data provide no indication of a break in the prevailing positive trend. Indeed, the Sentiment Index has averaged 94.5 since December 2014, the highest eight month average since 2004. Although one-in-ten consumers, when asked to identify any recent economic developments they had heard, referred negatively to Greece, the Chinese economy, and the Trans-Pacific Partnership on trade, it had virtually no impact on the Sentiment Index."
Economists polled by Reuters expected the final July reading to come in at 94, a tad higher from a preliminary reading of 93.3.
The previous final reading for June was 96.1.
The reading for current economic conditions also slipped month-over-month, coming in at 107.2. The June current economic conditions reading was 108.9.