US Conference Board Consumer Confidence rose from 97.8 to 100.3 in July, above expectation of 99.8. Present Situation Index fell from 135.3 to 133.6. But Expectations Index rose from 72.8 to 78.2. Nevertheless, Expectations reading below 80 usually signals a recession ahead.
“Confidence increased in July, but not enough to break free of the narrow range that has prevailed over the past two years,” said Dana M. 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.”
Full US Conference Board consumer confidence release here.
