Consumer Confidence Falls Again in July
The Conference Board Consumer Confidence Index, which had declined sharply in June, retreated further in July and now stands at 50.4 (1985=100), down from 54.3 in June, the Conference Board reported.
The Present Situation Index decreased to 26.1 from 26.8 last month, while the Expectations Index declined to 66.6 from 72.7 in June.
"Concerns about business conditions and the labor market are casting a dark cloud over consumers that is not likely to lift until the job market improves," said Lynn Franco, director of The Conference Board Consumer Research Center.
"Given consumers' heightened level of anxiety, along with their pessimistic income outlook and lackluster job growth, retailers are very likely to face a challenging back-to-school season."
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