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US consumer confidence hit a two-year high in July. This result was supported by a robust labor market and easing inflation.
The Conference Board’s index, which monitors the health of the market, rose to 117 points this month, up from 110.1 in June. The figure beat the median estimate of 112 expected from a Bloomberg survey of economists.
The group’s measurement of current conditions showed improvement, hitting its highest level since March 2020. A gauge reflecting consumer expectations for the next six months advanced, hitting its highest point since early last year. Finally, an indicator of expected inflation signaled a slight decline.