NEW YORK (AP) — U.S. consumer confidence rose in July after
four months of declines, as a brighter outlook for short-term hiring
offset longer-term worries about the economy.
The Conference Board
says its Consumer Confidence Index increased to 65.9, from 62.7 in
June. That’s the highest reading since April and better than the reading
of 62 that economists had forecast.
Still, the index remains well
below 90, which indicates a healthy economy. It hasn’t been near that
level since the Great Recession began in December 2007. The index fell
to an all-time low of 25.3 in February 2009 — four months before the
recession officially ended.
Consumer confidence is widely watched because consumer spending drives 70 percent of U.S. economic
activity.
Copyright 2012 The Associated Press.
NEW YORK (AP) — U.S. consumer confidence rose in July after
four months of declines, as a brighter outlook for short-term hiring
offset longer-term worries about the economy.
The Conference Board
says its Consumer Confidence Index increased to 65.9, from 62.7 in
June. That’s the highest reading since April and better than the reading
of 62 that economists had forecast.
Still, the index remains well
below 90, which indicates a healthy economy. It hasn’t been near that
level since the Great Recession began in December 2007. The index fell
to an all-time low of 25.3 in February 2009 — four months before the
recession officially ended.
Consumer confidence is widely watched because consumer spending drives 70 percent of U.S. economic
activity.
Copyright 2012 The Associated Press.