- Analytics
- News and Tools
- Market News
- U.S. consumer confidence drops more than forecast in July
U.S. consumer confidence drops more than forecast in July
U.S. consumer
confidence drops more than forecast in July
The Conference
Board announced on Tuesday its U.S. consumer confidence fell 5.7 points to 92.6
in July from 98.3 in June.
Economists had
expected consumer confidence to come in at 94.5.
June’s consumer
confidence reading was revised up from originally estimated 98.1.
The survey
showed that the expectations index plunged from 106.1 last month to 91.5 this
month. Meanwhile, the present situation index rose from 86.7 in June to 94.2.
“Consumer
Confidence declined in July following a large gain in June,” noted Lynn Franco,
Senior Director of Economic Indicators at The Conference Board. “The Present
Situation Index improved, but the Expectations Index retreated. Large declines
were experienced in Michigan, Florida, Texas and California, no doubt a result
of the resurgence of COVID-19. Looking ahead, consumers have grown less
optimistic about the short-term outlook for the economy and labor market and
remain subdued about their financial prospects. Such uncertainty about the
short-term future does not bode well for the recovery, nor for consumer
spending.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
