U.S. Consumer Confidence Declines Again

The Conference Board said Tuesday its consumer confidence index fell to 50.4 in July, down from 54.3 last month. “Concerns about business conditions and the labor market are casting a dark cloud over consumers that is not likely to lift until the job market improves,” said Lynn Franco, the director of The Conference Board Consumer Research Center. “Given consumers’ heightened level of anxiety, along with their pessimistic income outlook and lackluster job growth, retailers are very likely to face a challenging back-to-school season.”