Conference Board index at a 6-yr high

01 Aug '07

2 min read

The Conference Board Consumer Confidence Index, which had dipped in June, rebounded in July. The Index now stands at 112.6 (1985=100), up from 105.3 in June. The Present Situation Index increased to 139.2 from 129.9 in June. The Expectations Index rose to 94.8 from 88.8.

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. TNS is the world's largest custom research company. The cutoff date for July's preliminary results was July 24th.

Says Lynn Franco, Director of The Conference Board Consumer Research Center: “The rebound in Consumer Confidence has catapulted the Index to its highest reading in nearly six years (August 2001, 114.0). An improvement in business conditions and the job market has lifted consumers' spirits in July. The Present Situation Index is also at a near six-year high (August 2001 144.5)."

"Looking ahead, consumers are more upbeat about short-term economic prospects, mainly the result of a decline in the number of pessimists, not an increase in the number of optimists. This rebound in confidence suggests economic activity may gather a little momentum in the coming months."

Consumers were considerably more positive about current-day conditions in July than they were in June. Those claiming conditions are “good” increased to 28.1 percent from 27.3 percent. Those saying conditions are “bad” decreased to 14.4 percent from 16.1 percent.

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