U.S. Consumer Confidence Report for July 2024

SOURCE apnews.com
American consumers felt more confident in July as expectations over the near-term future rebounded, but feelings about current conditions weakened. The Conference Board reported a rise in the consumer confidence index to 100.3 in July from 97.8 in June, with concerns about elevated prices and interest rates persisting.

Key Points

  • Consumer confidence index rose to 100.3 in July from 97.8 in June
  • Short-term expectations for income, business, and job market improved
  • Consumers concerned about elevated prices and interest rates
  • Number of respondents planning to purchase a home at a 12-year low

Pros

  • Rise in consumer confidence index in July compared to June
  • Positive short-term expectations for income, business, and job market
  • Consumers remain relatively positive about the labor market

Cons

  • Dip in consumers' view of current economic conditions
  • Concerns about elevated prices and interest rates
  • Number of respondents planning to purchase a home fell to a 12-year low