A consumer confidence The US dollar hovered at a 17-month high in July, suggesting the economy maintained its strong pace of growth into the third quarter.
The Conference Board said on Tuesday that its consumer confidence index has changed little, to a reading of 129.1 this month, the highest level since February 2020.
Economists polled by Reuters predicted a drop to 123.9. The research puts more emphasis on the job market.
“Consumers’ assessment of current conditions held up, suggesting that economic growth in the third quarter started out strong,” said Lynn Franco, senior director of economic indicators at the Conference Board.
“Consumers’ optimism about the near-term outlook has not faltered, and they have continued to hope that business conditions, jobs and personal financial prospects will improve.”