The Conference Board Consumer Confidence Index slipped to 97.3 in July, down 0.1 points from the previous month.
The Present Situation Index rose 1.7 points to 118.3, while the Expectations Index slipped 1.3 points from June.
“Consumers were slightly more positive about current business and labor market conditions, suggesting the economy will continue to expand at a moderate pace,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Expectations regarding business and labor market conditions, as well as personal income prospects, declined slightly as consumers remain cautiously optimistic about growth in the near term.”
The labor market outlook was slightly more favorable in July, as the share of consumers expecting fewer jobs in the coming month decreased 0.7 points to 17.0%, while those anticipating more jobs was unchanged at 14.0%. Income expectations declined as 16.6% of consumers expected their incomes to increase in the coming months, down from 18.2% in June.
Read the release.
Visit Banks and the Economy.