US consumer confidence rose slightly in July but remains low due to ongoing concerns about tariffs and the impact on personal finances. The Conference Board’s index improved by two points to 97.2, surpassing analysts’ forecasts.
However, Americans’ view of their economic future worsened, with short-term expectations for income, business conditions, and the job market dropping 4.5 points to 74.4. This is below the threshold that could signal a recession.
Tariffs remain the top concern, with respondents fearing they will affect personal finances negatively. The International Monetary Fund has upgraded its economic outlook, forecasting 3% global growth this year, despite President Trump’s protectionist trade policies.
Consumer prices rose 2.7% in June, the highest level since February, due to increased tariffs. Economists pay close attention to core prices, which exclude volatile categories and provide a better indication of inflation.
The job market continues to churn out jobs, but Americans’ views of it deteriorated for the seventh straight month. The US labor market added 147,000 jobs in June, while unemployment ticked down to 4.1%. However, job vacancies dropped, and people quitting their jobs decreased slightly.
Source: https://apnews.com/article/consumer-confidence-survey-conference-board-economy-66701044010feebc23dbf1802f947f99