The Consumer Confidence Index was 97.2 in July, up from 95.2 in June, the Conference Board said. The present situation index — based on consumers’ assessment of current business and labor market conditions — declined 1.5 points to 131.5. The expectations index — based on consumers’ short-term outlook for income, business and labor market conditions — rose 4.5 points to 74.4.
“Consumer confidence has stabilized since May, rebounding from April’s plunge, but remains below last year’s heady levels,” said Stephanie Guichard, senior economist, global indicators, at the Conference Board. “In July, pessimism about the future receded somewhat, leading to a slight improvement in overall confidence. All three components of the expectation index improved, with consumers feeling less pessimistic about future business conditions and employment, and more optimistic about future income.”
