Conference Board report: U.S. consumer confidence strengthens in July

Nathan Andrada – Fourth Estate Cooperative Contributor

New York, NY, United States (4E) – Consumer confidence in the U.S. improved in July, according to results in a survey by a private research group released Tuesday, while better sentiment about the job market backs payroll gains in July.

The Conference Board’s consumer confidence index rose to 90.9 in July from a revised reading of 86.4 in June, which was initially estimated as 85.2.

Tuesday’s result marks the highest level since October 2007, before the recession. The latest reading compares with the 85.0 forecast by economists polled by The Wall Street Journal.

The present situation index, a measure of consumers’ assessment of current economic conditions, climbed to 88.3 in July from a revised 86.3 reading in the previous month, initially estimated as 85.1.

Consumer sentiment for economic activity over the next six-month period increased to 92.7 from a revised reading of 86.4 in June, initially forecast at 85.2.

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