US Consumer Confidence Falls, Economic Outlook Remains Fragile
The Conference Board's US Consumer Confidence Index fell to 90.8 in July, from 92.2 in June, which was revised upward from the initial 91.2. This decline indicates that US consumer sentiment is losing momentum again.
The Conference Board stated that consumer confidence remains on a downward trend that has persisted since the end of 2021. The assessment of current economic conditions weakened for the third consecutive month, influenced by a more cautious outlook on business activity and the labor market.
The expectations index also remained in negative territory. Consumers expect business conditions to improve only slightly in the next six months, although the outlook for the labor market is not as bad as previously.
Expectations for household income also declined, but remain within optimistic territory. This data reflects US consumers becoming more cautious in the face of economic uncertainty, inflation, and the direction of the Federal Reserve's interest rate policy.
Source: Newsmaker.id
