The Conference Board Consumer Confidence Index rebounded in July, following a decrease in June. The index now stands at 135.7, up from 124.3 in June, its highest level this year.
“Consumers are once again optimistic about current and prospective business and labor market conditions. In addition, their expectations regarding their financial outlook also improved. These high levels of confidence should continue to support robust spending in the near-term despite slower growth in GDP,” said Lynn Franco, senior director of economic indicators at The Conference Board.