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Consumer confidence rose in July

For the first time in five months, consumer confidence rose in July, with more consumers optimistic about the labor market and the economy in the next six months. 

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.”

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