SILVER SPRING, Md. — U.S. consumer confidence was largely unchanged between June and July, holding to the lofty heights that were last seen near the beginning of 2020, just before the coronavirus pandemic throttled the U.S. and global economies.
The Conference Board reported Tuesday that its consumer confidence index inched up in July to 129.1, above last month’s reading of 128.9. It’s the sixth straight month that the measurement has risen.
The appraisal of current business conditions among Americans ticked up slightly to 160.3, from 159.6 in June. Short term expectations came in at 108.4, down from 108.5 last month.
Consumer spending makes up about 70% of all economic activity in the U.S., so economists pay close attention to the numbers for a better idea of what’s to come for the national economy.
Local journalism is essential.
Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.
Subscribe to the Coronavirus newsletter
Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.