U.S. consumer confidence weakened in July, according to a report cited by Jin10. The Conference Board’s Consumer Confidence Index fell to 90.8 from a revised 92.2 in June, coming in below the forecast of 92.3. The reading points to softer household sentiment at the start of the second half of the year.
The report said views on the labor market remained broadly weak. Dana Peterson, chief economist at The Conference Board, said consumers’ responses on factors affecting the economy were still mostly pessimistic in July. She also noted that references to jobs and unemployment increased slightly.
The latest figures add to signs of caution in household sentiment, with both the headline confidence reading and commentary on employment showing a softer tone than expected.
U.S. consumer confidence declined in July, according to a report cited by Jin10. The Conference Board’s Consumer Confidence Index fell to 90.8 from a revised 92.2 in June, below the forecast of 92.3.
Households’ views on the labor market remained broadly weak. Dana Peterson, chief economist at The Conference Board, said consumers’ feedback on factors affecting the economy was still mostly pessimistic in July, while mentions of jobs and unemployment increased slightly.
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