Confident Consumer as American Index Jumps

Confident Consumer

Index Jumps to 90.9 in July - 

American consumers are more confident about the economy than they have been in nearly seven years.

The Conference Board said Tuesday that its confidence index rose to 90.9 in July from 86.4 in June. The July reading is the highest since October 2007.

It was the third straight increase on the index. Economists said that strong job growth has helped boost consumers' assessment of current conditions.

Confidence has been rising since bottoming in Feb 2009 at 25.3 and the index is now well above last year's average of 72.3.

Consumers' attitudes are closely watched because their spending accounts for about 70 percent of economic activity.

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Roy Singh

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