The Conference Board Consumer Confidence Index, which had declined marginally in June (a downward revision), improved in July. The Index now stands at 121.1, up from 117.3 in June. The Present Situation Index increased from 143.9 to 147.8, while the Expectations Index rose from 99.6 last month to 103.3.
“Consumer confidence increased in July following a marginal decline in June,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers’ assessment of current conditions remained at a 16-year high (July 2001, 151.3) and their expectations for the short-term outlook improved somewhat after cooling last month. Overall, consumers foresee the current economic expansion continuing well into the second half of this year.”