The Conference Board Consumer Confidence Index, which had improved in June, declined in July. The index now stands at 90.9 (1985=100), down from 99.8 in June. The Present Situation Index decreased moderately from 110.3 last month to 107.4 in July while the Expectations Index declined sharply to 79.9 from 92.8 in June.
Consumers’ assessment of current conditions was somewhat less favorable in July. Those saying business conditions are “good” decreased from 26.1% to 24.2%. However, those claiming business conditions are “bad” was virtually unchanged at 17.9%. Consumers were slightly less positive about the job market. Those stating jobs are “plentiful” decreased from 21.3% to 20.7%, while those claiming jobs are “hard to get” increased marginally from 26.1% to 26.7%.