U.S. consumer confidence rises for first time in five months
July 31, 2012
Filed under News
U.S. consumer confidence rose for the first time in five months, according to the latest index from New York-based private research group the Conference Board.
The Conference Board’s index increased to 65.9 this month from 62.7 in June. The report reflected an increase in the share of consumers anticipating better labor and economic conditions in six months.
“A pickup in the housing market and decreases in fuel prices may also be helping sustain consumer sentiment,” according to a report from Bloomberg. “At the same time, faster job gains are needed to spur consumer spending, which grew in the second quarter at the slowest pace in a year.”