July Consumer Confidence Index at Highest Level Since October 2007
The Conference Board’s Consumer Confidence Index, which had improved in June, increased again in July. The index now stands at 90.9 (1985=100), up from 86.4 in June. The Present Situation Index increased to 88.3 from 86.3, while the Expectations Index rose to 92.7 from 86.4 in June.
Consumers’ assessment of current conditions improved in July. Those claiming business conditions are “good” edged down to 22.7% from 23.4%, while those stating business conditions are “bad” was virtually unchanged at 22.7%. Consumers’ appraisal of the job market was more favorable. Those saying jobs are “plentiful” increased to 15.9% from 14.6%, while those claiming jobs are “hard to get” remained unchanged at 30.7%.