US consumer confidence falls in July vs June–IBD

NEW YORK, July 13 (BestGrowthStock) – U.S. consumer confidence fell
3.2 percent in July from June as Americans remained unconvinced
by signs of a recovery, a report found on Tuesday.

Investor’s Business Daily and TechnoMetrica Market
Intelligence said their IBD/TIPP Economic Optimism Index
slipped to 44.7 in July from 46.2 in June.

Readings above 50 indicate optimism, while those below 50
point to pessimism.

The index is now 3.2 points below its 12-month average of
47.9, and 0.3 points above the 44.4 level IBD reported in
December 2007 when the recession began.

“Many Americans remain troubled at the failure of the
economy to respond to more than $2 trillion in various
stimulus, bailout and Fed programs,” said Terry Jones,
associate editor of Investor’s Business Daily.

“They keep looking for clear signs of a strong rebound, but
just aren’t seeing it.”

Those surveyed remain uncertain about their household
finances in the next six months. The gauge’s personal financial
outlook measure dropped 2.5 percent in the month to 50.9.

The index’s six-month economic outlook component fell 7
percent to 42.8, although it remains 10.7 points above its
level in December 2007.

The IBD/TIPP surveys more than 900 adults generally in the
first week of the month.

(Reporting by Ciara Linnane, Editing by Chizu Nomiyama)

US consumer confidence falls in July vs June–IBD