Overview
- The Conference Board’s July 1–22 survey showed the Consumer Confidence Index slipped to 90.8 from a revised 92.2 in June, a third straight month of softer present‑condition readings.
- The Present Situation Index declined for the third month, while the Expectations Index held at 74.7, a level that analysts link with higher recession risk.
- The Conference Board reported that average and median 12‑month inflation expectations were less elevated in July, even as a reported 61.3% of respondents expect interest rates to rise over the next year.
- Renewed fighting involving the U.S. and Iran drove gasoline price volatility during the survey period and was cited by respondents as a factor weighing on wallets and sentiment, with more mentions of jobs and unemployment appearing in write‑in answers.
- Markets and policy makers will watch the next Conference Board release for signs that rate‑hike expectations and cooled inflation worries begin to ease, since sustained sentiment weakness could slow spending, affect growth, and influence political dynamics ahead of the midterms.