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News: 2012-07-31 14:06:00 UTC+00

U.s. Consumer Morale Climbs up Unexpectedly in July

  • U.S. consumer confidence rose unexpectedly in July to 65.9 from a upwardly revised 62.7 in June, beating expectations for a decline to 61.5.
  • The consumer expectations index improved to 79.1 from 73.4, while the present situation index edged lower at 46.2 from 46.6.
  • Consumers' labor market assessment was mixed as the "jobs plentiful" index slipped to 7.8 pct from 8.3 pct, while the "jobs hard to get" index also fell to 40.8 pct from 41.2 pct.
  • The view in six months from now was more optimistic, with 17.6 pct expecting to see more jobs, up from 14.8 percent in June.
  • Consumer inflation expectations in coming 12 months rose to 5.4 pct from 5.3 pct.

 Quotes

"While consumers expressed greater optimism about short-term business and employment prospects, they have grown more pessimistic about their earnings. Given the current economic environment - in particular the weak labor market - consumer confidence is not likely to gain any significant momentum in the coming months."

Lynn Franco, Director, Conference Board Consumer Research Center

Published: 2012-07-31 14:06:00 UTC+00 10 months, 2 weeks, 4 days, 11 hours, 42 min. ago
 
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