Outlook Bleak, Say Pessimistic Businesses
Consumers' appraisal of the economy was "quite bleak" in July as consumer confidence held steady near the 16-year low it achieved last month, according to the Conference Board, a private research firm based in Washington, D.C.
The board's consumer confidence index hit 51.9 in July, a slight upturn from the 51 it registered in June, the board said.
In the board's most recent survey respondents claiming business conditions are "bad" increased to 32.8 percent from 31.9 percent last month, while those claiming business conditions are "good" rose to 13.1 percent from 11.5 percent in June, the board said.
Consumers' appraisal of the labor market remained negative. Those saying jobs are "hard to get" edged up to 30.3 percent from 29.7 percent in June, while those claiming jobs are "plentiful" declined to 13.5 percent from 14.1 percent.
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