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US consumer confidence drops in July

JUL 28, 201510:24 PM

[NEW YORK] US consumer confidence weakened in July, due in part to a less optimistic outlook on the labor market, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes fell to 90.9 and was lower than a downwardly revised 99.8 in May.

The reading marked its lowest level since September 2014.

Economists had forecast a July reading of 100.0, according to a Reuters poll.

The June figure was originally reported at 101.4.

The report's hard-to-get jobs index rose to 26.7 last month from June's upwardly adjusted 26.1.

REUTERS