Business Standard

US consumer confidence ebbs in July as Covid-19 infections flare-up

The Conference Board said on Tuesday its consumer confidence index dropped to a reading of 92.6 this month from 98.3 in June.

US Economy
Premium

People cross Broadway with shopping bags in Manhattan, New York City, US

Reuters Washington
US consumer confidence ebbed in July amid a flare-up in Covid-19 infections across the country, which is threatening the economy's recovery from an unprecedented recession caused by the pandemic.

The Conference Board said on Tuesday its consumer confidence index dropped to a reading of 92.6 this month from 98.3 in June.

Economists polled by Reuters had forecast the index would drop to 94.5 in July.

The reopening of businesses has boosted economic activity in recent months, but left the country struggling to contain the resurgence in new cases of the coronavirus, forcing some authorities in the hard-hit South and West

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 28 2020 | 9:01 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com