Overview

• Consumer confidence index rose to 117 in July, reaching the highest level since July 2021.
• Strong labor market conditions and cooling inflation contributed to the increase in consumer optimism.
• Both the assessment of current conditions and expectations for the future improved.
• Confidence rose across all age and income groups, though some concerns about a potential recession persist.
• The increase in sentiment reduces the chances of a recession in the near-term as the Fed continues raising interest rates.