US consumer confidence rises modestly in July

U.S. consumer confidence improved less than expected in July and households' perceptions of current job availability were the weakest in nearly 4-1/2 years, consistent with easing labor market conditions.

The Conference Board said on Tuesday its consumer confidence index increased 2.0 points to 97.2 this month. Economists polled by Reuters had forecast the index would increase to 95.0.

"Pessimism about the future receded somewhat, leading to a slight improvement in overall confidence," said Stephanie Guichard, senior economist, global indicators at the Conference Board. "However, their (consumers) appraisal of current job availability weakened for the seventh consecutive month, reaching its lowest level since March 2021."