United States Consumer Confidence

United States

United States: Consumer confidence soars to pre-crisis high

July 29, 2014

The Conference Board consumer confidence index rose from 86.4 points in June (previously reported: 85.2 points) to 90.9 points in July. The reading, which far exceeded market expectations of a fall to 85.5 points, marked the highest point since October 2007.

July’s rise in confidence was driven in part by more positive consumer assessments of current economic conditions. Moreover, there was a notable rise in consumers’ expectations regarding their personal finances over the next 12 months and their outlook on the future job market.

The director of the Board explained that, “strong job growth helped boost consumers’ assessment of current conditions, while brighter short-term outlooks for the economy and jobs, and to a lesser extent personal income, drove the gain in expectations. Recent improvements in consumer confidence, in particular expectations, suggest the recent strengthening in growth is likely to continue into the second half of this year.”

FocusEconomics Consensus Forecast panelists expect private consumption to grow 2.4% in 2014, which is down 0.2 percentage points from last month’s forecast. For 2015, the panel sees private consumption increasing 2.9%.


Author:, Economist

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USA Consumer Confidence July 2014

Note: Consumer Confidence Index.
Source: The Conference Board.


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