Source: Economics Group of Wells Fargo Bank, N.A.
Summary
Consumers grew a bit more optimistic on coming conditions in July, but households remain hesitant. Tariff fears and a steady moderation in the labor market continue to leave them less confident in their job prospects which could limit their capacity to keep spending.
Shake It Off
The improved read on consumer confidence comes from a better assessment of how things look in the future more so than a more upbeat take on how things are now. The overall expectations component rose two points to 97.2 even as present situation measure fell 1.5 points to 131.5 (chart).