Index Fell for Third Straight Month, as Consumers’ View of Present Situation Weakened
The Conference Board Consumer Confidence Index® decreased in July, following a larger decline in June. The Index now stands at 95.7 (1985=100), down 2.7 points from 98.4 in June. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell to 141.3 from 147.2 last month. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—ticked down to 65.3 from 65.8.
“Consumer confidence fell for a third consecutive month in July,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The decrease was driven primarily by a decline in the Present Situation Index—a sign growth has slowed at the start of Q3. The Expectations Index held relatively steady, but remained well below a reading of 80, suggesting recession risks persist. Concerns about inflation—rising gas and food prices, in particular—continued to weigh on consumers.”
“As the Fed raises interest rates to rein in inflation, purchasing intentions for cars, homes, and major appliances all pulled back further in July. Looking ahead, inflation and additional rate hikes are likely to continue posing strong headwinds for consumer spending and economic growth over the next six months.”
Present Situation
Consumers’ appraisal of current business conditions was less favorable in July.
Consumers’ assessment of the labor market was less optimistic.
Expectations Six Months Hence
Consumers were mixed about the short-term business conditions outlook in July.
Consumers were also mixed about the short-term labor market outlook.
Consumers were more pessimistic about their short-term financial prospects.
The monthly Consumer Confidence Survey®, based on an online sample, is conducted for The Conference Board by Toluna, a technology company that delivers real-time consumer insights and market research through its innovative technology, expertise, and panel of over 36 million consumers. The cutoff date for the preliminary results was July 21.
Source: July 2022 Consumer Confidence Survey®
The Conference Board
The Conference Board publishes the Consumer Confidence Index® at 10 a.m. ET on the last Tuesday of every month. Subscription information and the technical notes to this series are available on The Conference Board website: https://www.conference-board.org/data/consumerdata.cfm.
About The Conference Board
The Conference Board is the member-driven think tank that delivers Trusted Insights for What’s Ahead®. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org • Learn more about our mission and becoming a member
The next release is Tuesday, August 30 at 10 AM ET.
For further information contact:
Joseph DiBlasi
781.308.7935
jdiblasi@tcb.org
Jonathan Liu
jliu@tcb.org
PRESS RELEASE
US Consumer Confidence Inched Up in July
July 29, 2025
IN THE NEWS
Steve Odland on Consumer Confidence
April 29, 2025
IN THE NEWS
Stephanie Guichard on Consumer Confidence
March 25, 2025
IN THE NEWS
Yelena Shulyatyeva: What February consumer confidence says about the labor marke
February 25, 2025
IN THE NEWS
Stephanie Guichard: Consumers are less optimistic about the future in February
January 29, 2025
IN THE NEWS
Yelena Shulyatyeva: January Consumer Confidence drops, inflation still a concern
January 28, 2025
All release times displayed are Eastern Time
Connect and be informed about this topic through webcasts, virtual events and conferences
How Businesses Can Succeed as US Consumers Guard Wealth, Health Amid Uncertainty
May 12, 2025 | Article
Social Standing: Current Attitudes About Social Media
April 02, 2025 | Article
Politics Shapes US Consumer Views About 2025
February 10, 2025 | Report
US Consumers Hope for Lower Prices and Taxes in 2025
December 17, 2024 | Article
June CPI data support Fed rate cuts later this year
July 11, 2024 | Brief
C-Suite Perspectives
The State of the Economy for August 2024
August 27, 2024
C-Suite Perspectives
The State of the Economy for July 2024
July 30, 2024
C-Suite Perspectives
The State of the Economy for June 2024
June 25, 2024