Consumer Confidence Index: Up in July After 4 Months Down Aug 1, 2012

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The Conference Board Consumer Confidence Index, after four months of declines, showed slight improvement in July 2012.

The Index (1985=100) was up from 62.7 in June 2012 to 65.9 in July. The Expectations Index component improved from 73.4 in June to 79.1 in July. The Present Situation Index component, however, was slightly down, from 46.6 in June to 46.2 in July.

Lynn Franco, Director of Economic Indicators at The Conference Board, said that the overall Index remains at historically low levels. "Consumers' attitude regarding current conditions was little changed in July, but their short-term expectations, which had declined last month, bounced back," Franco said. "While consumers expressed greater optimism about short-term business and employment prospects, they have grown more pessimistic about their earnings. Given the current economic environment -- in particular the weak labor market -- consumer confidence is not likely to gain any significant momentum in the coming months."

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