The Conference Board’s consumer confidence index increased marginally in July. The index rose to a reading of 127.4 (1985=100) from 127.1 in June.

“Consumer confidence gained marginal ground in July, after a modest decline in June,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers’ assessment of present-day conditions improved, suggesting that economic growth is still strong. However, while expectations continue to reflect optimism in the short-term economic outlook, back-to-back declines suggest consumers do not foresee growth accelerating.”

Consumers’ outlook for the labor market was mixed. The proportion expecting more jobs in the months ahead increased to 22.5% from 20.0%, but those anticipating fewer jobs also increased to 15.7% from 13.1%.

The number of consumers stating that jobs are “plentiful” increased to 43.1% in July from 40.4% in June, while those claiming jobs are “hard to get” was virtually unchanged at 15.0%.