Consumer confidence rose in July
The Conference Board Consumer Research Center, an independent business research association, reported this morning that consumer confidence rating rose from 62.7 to 65.9 out of a potential score of 100, according to Bloomberg.
Despite the increase, Lynn Franco, director of the board, said in a release that he doesn’t expect confidence to increase in the coming months.
“Consumers’ attitude regarding current conditions was little changed in July, but their short-term expectations, which had declined last month, bounced back,” he said. “However, while consumers expressed greater optimism about short-term business and employment prospects, they have grown more pessimistic about their earnings.”