US July consumer confidence index slips to 116.5

US Conference Board announced that the July consumer confidence index dropped to 116.5, 2.4 pts below the index revised in June and worse than market expectation. The figure reflected that the mounting layoffs in many companies dampened the confidence of consumers who are less optimistic about the current economic status and the outlook for the coming 6 months. Analysts said that the current consumption and expense are sufficient enough to support the accelerated growth of the economy.

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