MW: Consumer-confidence gauge rises to 65.9 in July
By Ruth Mantell
WASHINGTON (MarketWatch) -- After declining for four months, U.S. consumer confidence increased in July on improved expectations, but remained at relatively low levels, the Conference Board reported Tuesday. The consumer-confidence index rose to 65.9 in July -- the highest level since April -- from a revised 62.7 in June. A prior estimate for June had pegged the level at 62. "While consumers expressed greater optimism about short-term business and employment prospects, they have grown more pessimistic about their earnings," said Lynn Franco, director of economic indicators at the Conference Board. Generally when the economy is growing at a good clip, confidence readings are at least 90. Economists polled by MarketWatch had expected confidence to decline to 61.4 in July, driven by weak jobs growth, and concern about U.S. fiscal conditions and financial problems abroad.
