The Consumer Confidence Index was 100.3 in July, up from 97.8 in June, the Conference Board said. The present situation index—based on consumers’ assessment of current business and labor market conditions—declined to 133.6 from 135.3 the previous month. The expectations index—based on consumers’ short-term outlook for income, business and labor market conditions—increased to 78.2 from 72.8 in June.
“Confidence increased in July, but not enough to break free of the narrow range that has prevailed over the past two years,” said Dana Peterson, chief economist at The Conference Board. “Even though consumers remain relatively positive about the labor market, they still appear to be concerned about elevated prices and interest rates, and uncertainty about the future; things that may not improve until next year.”
