Consumer Confidence Falls Again

August 08, 2022

The Consumer Confidence Index decreased in July, standing at 95.7, following a larger decline in June, according to a monthly survey conducted by The Conference Board. The drop reflects consumer sentiment on current business and labor market conditions, showing growth has slowed at the start of Q3 (falling to 141.3 from 147.2 last month).

The Index also reflects consumers’ short-term outlook and likely developments for the months ahead, for income, business, and labor market conditions. This one fell from 65.8 to 65.3 as the potential risk of recession and concerns about inflation continue to weigh on consumers.