American Consumer Confidence Slips Further in July, for Third Consecutive Month

People shop at a 99 Cents retail store in the Bronx borough of New York City, on July 13, 2022. Shannon Stapleton/Reuters

American consumer confidence for July, hit its lowest level since February 2021, as deep concerns over higher inflation and rising interest rates suggest poor economic growth in the early part of the third quarter.

Consumer Confidence Index

The Conference Board’s Consumer Confidence Index fell to 135.9 in July from a downwardly revised 137.4 in June, the lowest level since February 2019. The index averaged 132.7 in the first half of this year, which is down from 133.8 in the second quarter and 134.1 in the first quarter of 2021.

The Conference Board released its July 26 Consumer Confidence Index, which reflects current business conditions and potential developments for the months ahead.