WASHINGTON (MarketWatch) — Consumers lost some perkiness in July, as a sentiment gauge hit a four-month low because of weakening expectations for economic conditions, according to data released Friday.

The gauge from the University of Michigan and Thomson Reuters fell to a preliminary July reading of 81.3 — the lowest since March — from a final June level of 82.5. The gauge had averaged 86.9 over the year leading up to the recession sparked by the financial crisis.