High interest rates aren’t souring Americans’ moods: A key measurement of consumer confidence just shot up to a level not seen since July 2021
The Conference Board’s monthly Consumer Confidence Index hit 117 in July, rising from 110.1 the month before, according to new data released Tuesday. The index increased for the third consecutive month, bounding even higher after a sharp swing upward in June. Economists were expecting the index to climb to 111.8, according to consensus estimates on Refinitiv.
Although the two indexes typically track similarly over time, the Consumer Confidence Index is more influenced by employment and labor market conditions, while the Michigan sentiment index has a greater emphasis on household finances and the impact of inflation.
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