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CB Consumer Confidence declined more than expected

Tuesday, Jul 28 2015
The Conference Board Consumer Confidence Index, which had improved in June, declined in July. The Index now stands at 90.9 (1985=100), down from 99.8 in June. Analysts were anticipating reading of 100.1 points. The Present Situation Index decreased moderately from 110.3 last month to 107.4 in July, while the Expectations Index declined sharply to 79.9 from 92.8 in June. 
 
Says Lynn Franco, Director of Economic Indicators at The Conference Board: “Consumer confidence declined sharply in July, following a gain in June. Consumers continue to assess current conditions favorably, but their short-term expectations deteriorated this month. A less optimistic outlook for the labor market, and perhaps the uncertainty and volatility in financial markets prompted by the situation in Greece and China, appears to have shaken consumers’ confidence. Overall, the Index remains at levels associated with an expanding economy and a relatively confident consumer.”
 
After the data USD was pushed lower. Euro is currently being traded around 1.1050 area, Sterling is slightly below 1.56 handle, while Aussie is at 0.7310 level.
More in this category: « Euro fell before Fed meeting Aussie slightly down in a quite morning trade »

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