Consumer Confidence Slumps Further As Recession Risks Persist

The Conference Board said Consumer Confidence declined in July for the third consecutive month in the US with the index at 95.7 (consensus 96.4) from a downwardly revised 98.4 (from 98.7) in June. Angst continued as prices soared and political discourse continued to hot consumer sentiment. Consumers were also more pessimistic about the short-term outlook with the Expectations Index dipped to 65.3 from 65.8 in June.

The Conference Board

US July Consumer Confidence

  • The Conference Board’s Consumer Confidence Index dropped to 95.7 in July (consensus 96.4) from a downwardly revised 98.4 (from 98.7) in June. This is the third straight monthly drop in confidence. In the same period a year ago, the Consumer Confidence Index stood at 128.9.
  • There was a sharp drop in the Present Situation Index is consistent with a weakening growth outlook at the start of the third quarter
  • Conference Board notes that a reading below 80.0 for the Expectations Index suggests recession risks continue to persist.
  • The Present Situation Index fell to 141.3 from 147.2 in June.
  • The Expectations Index dipped to 65.3 from 65.8 in June.

The Conference Board publishes the Consumer Confidence Index® at 10 a.m. ET on the last Tuesday of every month. Subscription information and the technical notes to this series are available on The Conference Board website: https://www.conference-board.org/data/consumerdata.cfm.

About The Conference Board

The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.

Source: The Conference Board

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