Apral Jack orders deli meat at a Stop & Shop grocery store in Lexington, Massachusetts, on July 6 (local time). [AP]
Apral Jack orders deli meat at a Stop & Shop grocery store in Lexington, Massachusetts, on July 6 (local time). [AP]

The US consumer confidence index, which measures Americans' perceptions of current economic conditions and their outlook, fell in July.

The Conference Board, a US business research organization, said Tuesday that its preliminary consumer confidence index for July came in at 90.8 (based on 1985=100), down 1.4 points from the revised June reading of 92.2. The result fell short of analyst expectations of 92.0, based on a Dow Jones survey, which had forecast a reading similar to June's level.

The present situation index, which reflects current business and labor market conditions, fell 3.6 points to 114.9, extending its decline for a third consecutive month.

The expectations index, which captures consumers' short-term outlook, held steady at 74.7. The Conference Board noted that a reading below 80 on the expectations index typically signals a potential recession ahead.

The July consumer confidence reading was based on survey responses collected through July 22.

Dana Peterson, chief economist at the Conference Board, said consumers expect little improvement in business conditions over the next six months, though their outlook on the labor market was somewhat less pessimistic. She added that expectations for household income eased but remained broadly optimistic overall.


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