- Prior was 93.0 (revised to 95.2)
- Present situation 131.5 vs 129.1 prior
- Expectations 74.4 vs 69.0 prior
- Inflation expectations year ahead 5.8% vs 6.0% prior
Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board said: “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. 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.
“Meanwhile, consumers’ assessment of the present situation was little changed. They were a tad more positive about current business conditions in July than in June. However, their appraisal of current job availability weakened for the seventh consecutive month, reaching its lowest level since March 2021. Notably, 18.9% of consumers indicated that jobs were hard to get in July, up from 14.5% in January.”
This article was written by Giuseppe Dellamotta at investinglive.com.