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In July, consumer confidence in the US, announced by the Conference Board, marks 95.7 points from 97.2 expected and 98.7 previously. “Consumer confidence fell for the third consecutive month in July,” said Lynn Franco of the Conference Board. “The decline was mainly caused by the decrease in the current situation index, a sign that growth slowed at the beginning of the third quarter”. “As the Fed raises interest rates to contain inflation, intentions to buy cars, homes and large appliances further declined in July. Looking ahead, inflation and further rate hikes are likely to continue to pose major obstacles to consumer spending and economic growth over the next six months, ”she concludes.