Markets

CONSUMER CONFIDENCE UNEXPECTEDLY FALLS IN JULY

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Michigan basketball player Spike Albrecht
Michigan Wolverines guard Spike Albrecht reacts after a three point basket against the Louisville Cardinals during the first half of their NCAA men's Final Four championship basketball game in Atlanta, Georgia April 8, 2013.  REUTERS/Chris Keane

Preliminary results from the University of Michigan's July consumer confidence survey are out.

The headline index fell to 83.9 from last month's 84.1 reading, missing consensus estimates for a rise to 84.7.

The economic conditions sub-index rose to 99.7 from 93.8, while the economic outlook sub-index fell to 73.8 from 77.8.

Inflation expectations one year ahead rose to 3.3% from 3.0%, while inflation expectations five years ahead were unchanged at 2.9%.

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Matthew Boesler is formerly a reporter for Business Insider's markets desk. Previously, he hosted Benzinga Radio, a business news and investing program. He holds a degree in economics from the University of Michigan.