RESILIENCE: The Conference Board’s Consumer Confidence Index increased to 65.9, from 62.7 in June. That’s the highest reading since April and better than the reading of 62 that economists had forecast.
BIG BAROMETER: Consumer confidence is widely watched because consumer spending drives 70 percent of all U.S. economic activity. But the index remains well below 90, which would ndicate a healthy economy. When was the last time the index soared that high? It was December 2007, on the cusp of the Great Recession.
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ON DECK: Another snapshot of American’s willingness to spend will be revealed on Thursday, when major retailers report July revenue in stores open at least one year.
