Industry News

Consumer confidence falls in July

More Americans expect business conditions to worsen

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The Conference Board today announced that its consumer confidence index, which had increased in June, fell in July. The index now stands at 103.2, down from 106.2 in June. The present situation index decreased to 118.5 from 120.8. The expectations index declined to 93 from 96.4 last month. "This month's decline in consumer confidence is no cause for concern," said Lynn Franco, director of The Conference Board's Consumer Research Center. "The overall state of the economy remains healthy and consumers' outlook suggests no storm clouds on the short-term horizon. Even the steady upward tick of fuel prices at the pump has done relatively little to dampen consumers' spirits. Yet, while there is little to suggest a downturn in activity, there is also little to suggest a pickup." The outlook for the labor market was mixed. Consumers expecting more jobs to become available in the coming months edged up to 15.8 percent from 15.4 percent, while those expecting fewer jobs also edged up to 16...