Consumer Confidence Bounces with Current Labor Market Assessment
Jul 25, 2017
Consumer confidence unexpectedly improved in the Conference Board’s July survey as the expectations index rebounded after a disappointing June result. At 121.1, the headline index returned to its second strongest level since 2000. Better overall expectations were almost exclusively the result of expectations for business conditions as the outlook for employment and income were the same or softer. While expectations improved the most MoM, the current assessment’s more modest gain pushed it to its best level since July 2001. The current assessment of business conditions improved and the current assessment for employment fared better than the future outlook. The labor market differential – % who think jobs are plentiful less % who think jobs are hard to get – hit its highest since August 2001.