Economy

Economic Data Roundup (07/25/2017)

7/25/17 12:00 PM

iStock-545573832.jpgThe consumer confidence index from The Conference Board jumped to 121.1 this month, a much larger increase from June’s downward-revised print than economists had anticipated and the 2nd-highest headline reading since the turn of the century. The gain was driven by surveyed Americans’ record-level optimism about current economic conditions, although this latest reading generally disagrees with the softening seen in other consumer sentiment gauges recently. Outlooks on the future also improved in July, as 22.9 percent of surveyed Americans said that they expect business conditions to improve over the next half a year, and 19.2 percent reported that they anticipate jobs will be more plentiful in the months ahead. Consumer respondents were slightly less upbeat about their income prospects in July but The Conference Board’s Lynn Franco stressed that overall Americans still “foresee the current economic expansion continuing well into the second half of this year.”

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Sources: Econoday, The Conference Board, Twitter, Advisor Perspectives, FRBSL

Post author: Charles Couch