Consumer confidence retreated in July as Americans’ expectations deteriorated to an eight-month low. While the University of Michigan said Friday that its final index of sentiment decreased to 93.1 from 96.1 in June, the gauge has held above 90 for eight straight months, the longest period since a 17-month stretch ended in early 2005. The median projection of economists polled called for 94 after a preliminary July reading of 93.3. “The maintenance of confidence at high levels during the past eight months was mainly due to positive news on jobs and wages,” Richard Curtin, director of the Michigan Survey of Consumers, ... (full story)