NEW YORK, July 30, 2019 /PRNewswire/ -- The
Conference Board Consumer Confidence
Index® rebounded in July, following a decrease
in June. The Index now stands at 135.7 (1985=100), up from 124.3 in
June. The Present Situation Index – based on consumers' assessment
of current business and labor market conditions – increased from
164.3 to 170.9. The Expectations Index – based on consumers'
short-term outlook for income, business and labor market conditions
– increased from 97.6 last month to 112.2 this month.
"After a sharp decline in June, driven by an escalation in trade
and tariff tensions, Consumer Confidence rebounded in July to its
highest level this year," said Lynn
Franco, Senior Director of Economic Indicators at The
Conference Board. "Consumers are once again optimistic about
current and prospective business and labor market conditions. In
addition, their expectations regarding their financial outlook also
improved. These high levels of confidence should continue to
support robust spending in the near-term despite slower growth in
GDP."
The monthly Consumer Confidence
Survey®, based on a probability-design random
sample, is conducted for The Conference Board by Nielsen, a leading
global provider of information and analytics around what consumers
buy and watch. The cutoff date for the preliminary results was
July 18.
Consumers' assessment of present-day conditions improved in
July. Those claiming business conditions are "good" increased from
37.5 percent to 40.1 percent, however, those saying business
conditions are "bad" also increased slightly, from 10.6 percent to
11.2 percent. Consumers' appraisal of the job market was also more
favorable. Those saying jobs are "plentiful" increased from 44.0
percent to 46.2 percent, while those claiming jobs are "hard to
get" declined from 15.8 percent to 12.8 percent.
Consumers were more optimistic about the short-term outlook in
July. The percentage of consumers expecting business conditions
will be better six months from now increased from 19.1 percent to
24.0 percent, while those expecting business conditions will worsen
declined from 12.6 percent to 8.7 percent.
Consumers' outlook for the labor market was also more upbeat.
The proportion expecting more jobs in the months ahead increased
from 17.5 percent to 20.5 percent, while those anticipating fewer
jobs decreased from 13.9 percent to 11.5 percent. Regarding their
short-term income prospects, the percentage of consumers expecting
an improvement increased from 20.5 percent to 24.7 percent, while
the proportion expecting a decrease declined from 7.5 percent to
6.3 percent.
Source: July 2019 Consumer
Confidence Survey®
The Conference Board / Release #6109
The Conference Board publishes the Consumer Confidence
Index® at 10 a.m. ET
on the last Tuesday of every month. Subscription information and
the technical notes to this series are available on The Conference
Board website:
https://www.conference-board.org/data/consumerdata.cfm.
About The Conference Board
The Conference Board is the
member-driven think tank that delivers trusted insights for what's
ahead. Founded in 1916, we are a non-partisan, not-for-profit
entity holding 501 (c) (3) tax-exempt status in the United States.
www.conference-board.org.
About NIELSEN
Nielsen Holdings plc (NYSE: NLSN)
is a global performance management company that provides a
comprehensive understanding of what consumers watch and buy.
Nielsen's Watch segment provides media and advertising clients with
Total Audience measurement services for all devices on which
content — video, audio and text — is consumed. The Buy segment
offers consumer packaged goods manufacturers and retailers the
industry's only global view of retail performance measurement. By
integrating information from its Watch and Buy segments and other
data sources, Nielsen also provides its clients with analytics that
help improve performance. Nielsen, an S&P 500 company, has
operations in over 100 countries, covering more than 90 percent of
the world's population. For more information,
visit www.nielsen.com.
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SOURCE The Conference Board