U.S. consumer sentiment edged down in July, while an index of consumer expectations weakened for a third straight month, a survey released on Friday showed. The Thomson Reuters/University of Michigan's final July reading on the overall index on consumer sentiment came in at 81.8, a touch below the 82.0 estimate and down from the final June reading of 82.5. "What has recently dominated the attention of consumers is job and income growth," survey director Richard Curtin said in a statement. The survey's gauge of consumer expectations fell for a third straight month, to 71.8 from 73.5.
US Secretary of State John Kerry told Narendra Modi that India's stance on a key WTO trade deal sent the wrong message, as he met the country's new prime minister for the first time on Friday. Kerry has expressed optimism about expanding cooperation between the world's two largest democracies during a first visit aimed at reviving a relationship clouded by mistrust. During the meeting -- aimed at breaking the ice with a leader once shunned by Washington -- Kerry told Modi India's stance on the deal was at odds with his desire to open up the country's economy. "We note that the prime minister is very focused on his signal of open to business and creating opportunities and therefore the failure of implementing TFA (Trade Facilitation Agreement) sends a confusing signal and undermines that very message that he is seeking to send about India," a US official quoted Kerry as saying.