Consumer confidence lowest since FebruaryNews added by ProWEB Media on July 27, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

Consumer confidence in July fell to its lowest level since February, largely due to continuing job worries, according to a recent report by the Conference Board.

The group's index of consumer attitudes dipped to 50.4 in July from an upwardly revised 54.3 in June.

According to Lynn Franco, director of the Conference Board Consumer Research Center, "Concerns about business conditions and the labor market are casting a dark cloud over consumers that is not likely to lift until the job market improves."

Meanwhile, the expectations index fell to 66.6 from 72.7 in June, while the present situation index fell to 26.1 from 26.8 in June.

Finally, the "jobs hard to get" index increased to 45.8 from 43.5 percent, while the "jobs plentiful" index remained unchanged at 4.3 percent.
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