Consumer confidence rose unexpectedly in July despite the stalled economic recovery as long-term expectations for jobs improved, according to private research group's report on Tuesday.
The Conference Board's Consumer Confidence Index increased to 59.5 in July, from a revised 57.6 in June, an eight-month low. With a flurry of bad economic indicators in recent months, analysts expected to see a drop to 56 in July. A reading of 90 indicates a healthy economy, but that level hasn't been reached since before the recession started in December 2007.
The Conference Board's Consumer Confidence Index increased to 59.5 in July, from a revised 57.6 in June, an eight-month low. With a flurry of bad economic indicators in recent months, analysts expected to see a drop to 56 in July. A reading of 90 indicates a healthy economy, but that level hasn't been reached since before the recession started in December 2007.




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