American consumer confidence for July, hit its lowest level since February 2021, as deep concerns over higher inflation and rising interest rates, suggest poor economic growth in the early part of the third quarter.
The Conference Board released its July 26 Consumer Confidence Index, which reflects current business conditions and potential developments for the months ahead.
The July survey saw the third month of decline in sentiment, following an even larger decline in June, which now stands at 95.7, and is 2.7 points below last month’s figure pf 98.4.
About 43 percent of respondents said there is a greater than 50 percent chance that the U.S. economy will face a recession within a year, up from 13 percent in April….