US consumer confidence edged higher in July as jitters over the outlook eased, though consumers remained gloomy about their current situations, according to a private sector report released today.
The Conference Board, an industry group, said its index of consumer attitudes rose to 59.5 from a downwardly revised 57.6 the month before.
June's figure was originally reported as 58.5.
The expectations index rose to 75.4 from 71.6.
Worries about the labour market continued to weigh on consumers, however, and the present situation index fell to its lowest level since February at 35.7 from 36.6.
"Overall, consumers remain apprehensive about the future, but some of the concern expressed last month has abated," Lynn Franco, director of the Conference Board Consumer Research Center, said in a statement.
Consumers' labor market assessment worsened. The number of respondents saying they found "jobs hard to get" rose to 44.1 per cent from 43.2 per cent the month before, while the "jobs plentiful" category held steady at 5.1 per cent.
Consumers also felt better about price increases with expectations for inflation in the coming 12 months falling to 5.7 per cent from 6 per cent. It was also the lowest level since February.