US consumer confidence ticked up more than expected in July, survey data showed Tuesday, but readings have remained below 2024 levels as tariff and inflation worries remain top-of-mind.
The Conference Board’s consumer confidence index rose 2.0 points this month to 97.2, up from a 95.2 reading in June.
This was notably higher than the 95.5 figure expected by a Briefing.com consensus forecast of analysts.
“In July, pessimism about the future receded somewhat, leading to a slight improvement in overall confidence,” said Stephanie Guichard, a senior economist at The Conference Board.
But even as consumer confidence has stabilized since May, rebounding from a plunge in April, it remains “below last year’s heady levels,” Guichard added.
Consumers’ assessment of the current situation appears little changed, being slightly more positive about business conditions but holding a gloomier view of job availability.
Nearly 19 percent of consumers indicated that jobs were hard to land in July, up from 14.5 percent in January.
“Consumers’ write-in responses showed that tariffs remained top of mind and were mostly associated with concerns that they would lead to higher prices,” Guichard said.
Since returning to the presidency in January, Donald Trump has slapped sweeping tariffs on US trading partners, with separate and higher rates targeting imports of steel, aluminum and autos.
The Conference Board said references to high costs and inflation climbed in July, even as average 12-month inflation expectations eased slightly.
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