US CONSUMER CONFIDENCE TUMBLES IN JULY AS COVID-19 SPREADS

AppleMagazineJuly 31, 2020

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US CONSUMER CONFIDENCE TUMBLES IN JULY AS COVID-19 SPREADS
U.S. consumer confidence tumbled in July to a reading of 92.6 as coronavirus infections spread in many parts of the country.
The Conference Board, a New York research organization, reported that its Consumer Confidence Index fell from a June reading of 98.3. The weakness came from a drop in the expectations index, which measures consumer views about the short-term outlook for income, business and labor market conditions.

The consumer confidence index is closely watched for signals it can send about future consumer spending, which accounts for 70% of economic activity.

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July 31, 2020