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Job growth helps drive consumer confidence

July 29, 2014

The Conference Board consumer confidence index rose in July to a reading of 90.9 (1985=100) from 86.4 in June thanks, in part, to strong job growth.

“Consumer confidence increased for the third consecutive month and is now at its highest level since October 2007 (95.2),” said Lynn Franco, director of economic indicators at The Conference Board. “Strong job growth helped boost consumers’ assessment of current conditions, while brighter short-term outlooks for the economy and jobs, and to a lesser extent personal income, drove the gain in expectations. Recent improvements in consumer confidence, in particular expectations, suggest the recent strengthening in growth is likely to continue into the second half of this year.”