Consumer Confidence Edges Up in July, but Economic Concerns Persist

The Conference Board’s Consumer Confidence Index rose unexpectedly to 100.3 in July 2024, up from 97.8 in June, despite ongoing concerns about inflation and high interest rates.

While consumers remain positive about the labor market, they express worries about elevated prices and economic uncertainty. The Present Situation Index declined, but the Expectations Index improved, though it remains below the recession threshold.

Inflation expectations held steady at 5.4%, and consumers’ assessments of their current and future financial situations weakened slightly.