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US consumer confidence slips to 90.8 in July

The Conference Board said consumers expect little improvement in business conditions over the next six months, while labor market expectations were slightly less negative.

Reported · Written up by our desk · Economy

US consumer sentiment cooled in July, according to The Conference Board’s Consumer Confidence Index, which fell to 90.8 from June’s 92.2, a figure that was revised from 91.2.

The report said the Present Situation Index was less positive for a third consecutive month, while the Expectations Index remained in negative territory.

Conference Board chief economist Dana M. Peterson said consumers’ appraisals of current business conditions, and to a lesser extent views on the labor market, softened.

Looking ahead, the survey found expectations for household incomes moderated but remained optimistic overall, while expectations for the labor market were slightly less negative.

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