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Economy in Brief

Consumer Confidence Rebounded
by Tom Moeller July 31, 2007

Consumer confidence rebounded in July, according to the Conference Board Survey. The 6.9% increase recovered the 2.9% June decline and brought the index to its highest level since 2001.

The present conditions reading rose 7.2% as the percentage of respondents who viewed business conditions as good rose slightly but the percentage who viewed jobs as plentiful rose to the highest since 2001.

The expectations index also rose a sharp 6.8% to the highest level since the end of last year. Plans to by carpet and an automobile improved. Expectations about future income rose while expectations about the inflation rate fell. However, not many more respondents saw more employment opportunities.

The expected inflation rate in twelve months ticked lower to 5.1%, equal to expectations during all of last year for inflation in twelve months.

Conference Board
 (SA, 1985=100)
July June Y/Y 2006 2005 2004
Consumer Confidence Index 112.6 105.3 5.2% 105.9 100.3 96.1
Present Conditions 139.2 129.9 3.7% 130.2 116.1 94.9
Expectations 94.8 88.8 6.6% 89.7 89.7 96.9
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