Confidence Stands at Highest Level since July 2021
The Conference Board Consumer Confidence Index rose again in July to 117.0, up from 110.1 in June. The Present Situation Index — based on consumers’ assessment of current business and labor market conditions—improved to 160.0 from 155.3 last month. The Expectations Index — based on consumers’ short-term outlook for income, business, and labor market conditions—improved to 88.3 from 80.0 in June.
Importantly, Expectations climbed well above 80—the level that historically signals a recession within the next year.