In this June 4, 2014 photo, Carry Johnson, left, shows dresses to her daughters Zoey, 3, center, and Payton while they shop at a Costco in Plano, Texas. The private Conference Board reports on consumer confidence for July on Tuesday, July 29, 2014. (AP Photo/LM Otero, File)
U.S. consumer confidence jumps to 90.9 in July
Economy » Up from 86.4 in June, the measure is the highest since before the Great Recession.
By MARTIN CRUTSINGER
| The Associated Press
First Published Jul 29 2014 09:13 am • Last Updated Jul 29 2014 09:13 am
Washington • U.S. consumers are more confident about the economy than they have been in nearly seven years.
The Conference Board’s confidence index rose to 90.9 in July from an upwardly revised 86.4 in June. The July reading is the highest since October 2007, two months before the Great Recession officially began.
It was the third straight increase in the index. Economists said that strong job growth has helped boost consumers’ assessment of current conditions and also improved their outlook on jobs and the economy.
Conference Board economist Lynn Franco says that the improvements in consumers’ confidence and expectations about the future indicate that the recent strengthening in overall economic growth should continue in the second half of the year.
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