US consumer confidence edges up in July

WASHINGTON – Americans were a bit more confident about the economy in July, but their expectations for the near future dimmed slightly.

The Conference Board, a business research group, says its consumer confidence index rose to 127.4 this month from 127.1 in June.

The index measures both consumers’ assessment of current economic conditions and expectations for the future. Their view of current conditions in July was the rosiest since March 2001. But their expectations for the next six months dropped for the second straight month to the lowest reading since December.

Economic growth clocked in at an annual pace of 4.1 per cent from April through June, fastest since 2014. The unemployment rate is 4 per cent, at or below what economists consider full employment.