Consumer confidence south of the border sprang this month to heights it hadn't seen since November. This, after fumbling in June.
The U.S. Conference Board pegged consumer confidence index as jumping to 135.7 in July from 124.3 in June, a recovery from last month’s steep drop that was much stronger than economists expected.
The index measures consumers’ assessment of current economic conditions and their expectations for the next six months. Both rose substantially in July.
The study seemed to indicate consumers shrugged off trade tensions with China and a slowing U.S. economy.
Economists keep close watch on consumers’ spirits because their spending accounts for about 70% of U.S. economic activity.
