Consumer confidence gained more than expected in July, but consumers remained concerned about future economic growth. Market Pulse reported that the Confidence Board’s index increased to 127.4 in July, beating an estimated 126.5 by Reuters economists. The index was up from a disappointing revised reading of 127.1 in June, sunken by lower income prospects.

Consumers reported better feelings toward the current economic situation; however, they were not optimistic about long-term growth.

“Consumers’ assessment of present-day conditions improved, suggesting that economic growth is still strong, said Director of Economic Indicators at The Conference Board Lynn Franco. “However, while expectations continue to reflect optimism in the short-term economic outlook, back-to-back declines suggest consumers do not foresee growth accelerating.”

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