Survey Indicates Slight Rise in Consumer Confidence in July
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NEW YORK — Consumer confidence moved up slightly in July, according to a survey released Tuesday by the Conference Board, an industry-backed research organization.
The consumer confidence index, with 1969-70 equaling 100, advanced to 92.4, about one point higher than it was in June, the group said. Its buying plans index dropped to 88.9 from 107.6 in June.
It showed more than 28% of the respondents rating current business conditions as “good,” versus 29% in June. The percentage of those expecting improved business conditions in the second half remained the same at 20%.
“While back-to-back gains in consumer confidence are encouraging, consumers are still not as optimistic as they were during the first two months of this year,” said Fabian Linden, executive director of the Conference Board’s Consumer Research Center.
The percentage of those planning to buy automobiles declined to 7.5% in July from 8.8% in June; planned house purchases were down to 3.1% from 3.5%.
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