Consumer Confidence Index: “Inched Up in July”

Consumer confidence has stabilized since May, rebounding from April’s plunge, but remains below last year’s heady levels. In July, pessimism about the future receded somewhat, leading to a slight improvement in overall confidence.

Stephanie Guichard, senior economist at The Conference Board, on the U.S. Consumer Confidence Index improving by 2 points in July. 

Why It Matters: The monthly Consumer Confidence Index report reveals how optimistic or pessimistic consumers are about the U.S. economy, offering insight into “consumer attitudes, buying intentions, vacation plans, and consumer expectations for inflation, stock prices, and interest rates,” according to The Conference Board. While Guichard noted that consumers felt “less pessimistic about future business conditions and employment, and more optimistic about future income,” the report also showed that perceptions of current job availability hit a four-year low.  

READ the full press release from The Conference Board HERE. 

Learn More: Consumer confidence rebounds slightly in July on easing inflation fears and higher stock prices (Market Watch)

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