US Consumer Confidence Drops in July as Labor Market and Business Views Weaken.
US consumer confidence declined in July as Americans expressed more negative views about current business conditions and the labor market. The Conference Board’s Consumer Confidence Index fell to 90.8 from a revised 92.2 in June, coming in below forecasts of 92.4. The drop continues a broader downward trend that has been visible since late 2021. Economists noted that the softening reflects ongoing concerns about everyday costs and the economic outlook.
The Present Situation Index, which measures how consumers assess current conditions, dropped for a third consecutive month to 114.9. Meanwhile, the Expectations Index, which tracks short-term outlooks for income, business, and jobs, held steady at 74.7. Survey responses highlighted persistent worries over elevated grocery, gas, and oil prices. Respondents also pointed to ongoing Middle East conflicts as a factor weighing on sentiment, with many expecting little near-term improvement in business conditions.
The July reading captures a cautious mood among American households at a time of mixed economic signals. While some inflation expectations edged lower, the overall picture shows consumers remaining focused on cost-of-living pressures. Analysts will watch closely to see whether the next months bring any rebound or further softening in confidence. The data provide an important snapshot of how ordinary Americans are feeling about the economy right now.