Consumer Confidence in July Hovers at 17-Month High
Ann Arbor, MI, July 28, 2021-U.S. consumer confidence grew to a reading of 129.1 in July, the highest since February 2020 and up from 128.9 in June.
According to Lynn Franco, senior director of economic indicators at The Conference Board, “Consumers’ appraisal of present-day conditions held steady, suggesting economic growth in the third quarter is off to a strong start. Consumers’ optimism about the short-term outlook didn’t waver, and they continued to expect that business conditions, jobs and personal financial prospects will improve.”
Franco adds, “Spending intentions picked up in July, with a larger percentage of consumers saying they planned to purchase homes, automobiles, and major appliances in the coming months. Thus, consumer spending should continue to support robust economic growth in the second half of 2021.”