Although some data-especially in the housing sector-show that the economy is picking up, consumers continue to have their doubts.
The Consumer Confidence Index was 46.6, down from 49.3 in June and 54.8 in May, according to data released today by The Conference Board.
The New York City-based research organization's survey of 5,000 families also indicated that the Present Situation Index, which measures consumer assessment of current conditions, is 23.4, compared with 25 in June.
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The Expectations Index is 62, compared with 65 last month.
"Consumer confidence, which had rebounded strongly in late spring, has faded in the last two months. The decline in the Present Situation Index was caused primarily by a worsening job market, as the percent of consumers claiming jobs are hard to get rose sharply," Lynn Franco, director of The Conference Board's Consumer Research Center said in a statement.
Consumers describing business conditions as "good" rose to 9.1% from 8.1% in June, those saying conditions are "bad" increased to 46.3% from 45.3% last month. Those stating jobs are "hard to get" increased to 48.1% from 44.8% in June. Those saying jobs are "plentiful" decreased to 3.6% from 4.5% in June.
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