US consumer confidence continues to point to 'recession risks', Conference Board says
By Alexander Bueso
Date: Tuesday 26 Jul 2022
(Sharecast News) - US consumer confidence slipped more or less as expected amid concerns about inflation and continued to point to ongoing recession risks, the results of a closely-followed survey showed.
The Conference Board's consumer confidence index declined by 2.7 points from June and for a third successive month to reach 95.7 (consensus: 96.4).
A sub-index tracking Americans' expectations was little changed, dipping only from 65.8 to 65.3.
However, the sub-index linked to assessments of current business and labour market conditions fell from 147.2 to 141.3.
"The decrease was driven primarily by a decline in the Present Situation Index-a sign growth has slowed at the start of Q3," said Lynn Franco, senior director of Economic Indicators.
"The Expectations Index held relatively steady, but remained well below a reading of 80, suggesting recession risks persist. Concerns about inflation-rising gas and food prices, in particular-continued to weigh on consumers."
Special promo:
Trading the Forex Market? Visit FXmania.com to get advanced infomation about currencies and the Foreign Exchange
Market.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN