Declining consumer confidence in the United States in July

On 29 July, consumer confidence declined in the United States in July and public perceptions of the current business environment and labour market deteriorated. Data released on Tuesday by the World Federation of Large Enterprises show that the consumer confidence index has declined by 1.4 points to 90.8, while the data for the previous month were revised upwards. Economists estimate the median of 92.4. Indicators measuring the current situation have fallen to their lowest level since 2021, reflecting the same level of ambition for the next six months. High gasoline and food prices could put pressure on United States households, further highlighting the market ' s widespread concern about persistent inflation and rising cost of living. At the same time, recruitment activity has shown signs of slowing down after strong performance in the spring. A survey by the World Federation of Large Enterprises showed that consumer perceptions of the job market had weakened in July. The proportion of respondents who considered their posts to be adequate decreased to 24.6 per cent, and the proportion who found it difficult to find a job decreased slightly. The difference between these two rates is an indicator of the keen interest of economists, which narrows in July to the smallest since 2021, indicating that job-seekers face a difficult labour market environment. The survey covered the period from 1 to 22 July. The price of petrol at the United States gas station fell to its lowest level since March, after which it rebounded as the US-Iraq conflict escalated again and oil prices rose. After the United States moratorium on air strikes last weekend, market sentiment stabilized and oil prices fell。