US consumers more confident in the economy in July
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.
- Rome Protest Turns Up Heat On New PM Letta
- North Korea Fires Three Short-Range Missiles
- GOP hopes IRS scandal will snag health care law
- Japan Economy on the Road to Recovery
- Assad: Syria transition talks are internal matter
- Suspected US drone in Yemen kills 4 militants
- WHO: Death Toll From New Bird Flu In China Rises To 36
- Former Argentine Dictator Videla Dies In Prison At Age 87
- IMF says Cyprus at risk of even deeper recession
- UN says Syrian refugees top 1.5M