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Consumer Confidence Rises in July

(August 1, 2012) The Conference Board’s consumer confidence index rose in July following a decrease in June. The index now stands at a reading of 65.9 (1985=100), up from 62.7 in June.

“Despite this month’s improvement in confidence, the overall Index remains at historically low levels,” said Lynn Franco, director of The Conference Board consumer research center. “Consumers’ attitude regarding current conditions was little changed in July, but their short-term expectations, which had declined last month, bounced back.”

According to the index’s survey, consumers saying they expected more jobs in the months ahead rose to 17.6 percent in July from 14.8 percent in June. And, on the other hand, the percentage of consumers expecting fewer jobs fell to 20.3 percent in July from 20.8 percent in June.

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