US Consumer Confidence at Nearly 7-Year High

Washington, July 29 (QNA) – US consumer confidence hit a nearly seven-year high this month as it rose for the third month in a row to the highest level since October 2007, a monthly survey showed Tuesday.

The New York-based Conference Board’s consumer confidence index for July rose to 90.9, up from a revised 86.4 in June.

“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,” said Lynn Franco, director of economic indicators at the Conference Board.

The increase in confidence is likely to continue into the second half of the year, she said.(QNA)

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