U.S. consumer confidence declined
unexpectedly to the lowest in four months, a private group’s
report showed, as assessments of the job market fell to the
weakest in almost a decade.
The New York-based Conference Board’s consumer confidence
index plunged to 76.6 in July from 83.5 in June. The index
measuring consumers’ attitudes about conditions six months from
now dropped for the first time since March, during the Iraq war,
to 86.4 from 96.4, and the index measuring sentiment about the
current economy fell for a third month to 61.9 from 64.2.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
Treasuries gained after the report, erasing an earlier loss,
and stocks fell. The rise in unemployment to a nine-year high of
6.4 percent in June has undermined consumer confidence,
economists said, and companies including BMC Software Inc. and
Air Products & Chemicals Inc. are still announcing job cuts.
Bloomberg News
