The Conference Board's measure of Americans' Consumer Confidence fell more than expected in July, from an upwardly revised 92.2 to 90.8 (well below the 92.4 expectation)...
The Present Situation index fell to 114.9 (below 117.5 exp) - its weakest since Feb 2021 while Expectations were unchanged at 74.7 (very slightly better than the 74.4 exp).
“Consumer confidence moderated slightly in July, continuing a general downward sloping trajectory since late 2021,” said Dana M Peterson, Chief Economist, The Conference Board.
“The Present Situation Index was less positive for a third consecutive month while the Expectations Index remained in negative territory. Consumer appraisals of current business conditions and, to a lesser extent, perceptions of the current labor market both softened.
Looking ahead, consumers anticipate little improvement in business conditions over the next six months, but expectations for the labor market were slightly less negative. Expectations for household incomes moderated but remained optimistic overall.”
On a six-month moving average basis, by age, confidence for consumers under 35 remained the highest, while confidence among those aged 35-54 showed the greatest improvement.
By income, confidence was mixed, but generally higher-income groups were more optimistic.
By generation, confidence for Gen Z and Millennials remained the highest, while confidence fell the most for the Silent Generation on a six-month moving averag
