Consumers Grow More Confident in July

New York, NY, July 26, 2011 -- Consumer confidence rose in July, the Conference Board reported Tuesday.

The organization said its consumer-confidence index increased to 59.5 in July from a downwardly revised 57.6 in June.

Economists had expected the July reading to decline to 55.3 on concerns about the debt ceiling.

Generally when the economy is growing at a good rate, confidence readings above 90.

The measure of expectations rose to 75.4 in July from 71.6 in June, while the present-situation gauge fell to 35.7 from 36.6.