Consumer Confidence Fell for 3rd Straight Month: Conference Board
Consumer intentions to buy new TVs were flat in July compared with June, according to preliminary Conference Board data released Tuesday. The board commissioned analytics firm Toluna to canvass 5,000 U.S. homes through July 21, finding 10.1% plan to buy…
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a new TV set in the next six months, down from 10.4% in June, 11.4% in May and 13% in July 2021. Consumer confidence declined in July for the third straight month, though by a lower magnitude than in June, said the board: “Concerns about inflation -- rising gas and food prices, in particular -- continued to weigh on consumers. As the Fed raises interest rates to rein in inflation, purchasing intentions for cars, homes, and major appliances all pulled back further in July.”