July 27, 2010
Consumer Confidence Takes A Hit
By Matthew L. Brown
Nationwide consumer confidence continued its decline this month, according to the Conference Board.
The Consumer Confidence Index, which is measured on a scale of 100, sunk to 50.4 in July after dropping to 54.3 in June.
The present situation index, which asks consumers to rate the current economy, was 26.1, down from 26.8 in June.
The expectations index dove from 72.7 in June to 66.6.
Conference Board analysts said consumers are growing more pessimistic about the economy and will likely remain so until the job market begins to show real signs of improvement.
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