Today in Data: Declining Consumer Confidence

Today in data, continued inflation and fears of a recession have contributed to a drop in the Consumer Confidence Index.

Data

$267.2B: Orders last month for manufactured durable goods, a sign that consumers were still spending despite inflation

98.7: The Consumer Confidence Index, down from 103.2 last month, and the lowest level since February 2021

43.2: Decline in points in the Expectations Index, measuring consumers’ short-term outlook on the income, business and labor markets, between March 2021 and June 2022

½: Share of paycheck-to-paycheck consumers who said their salary only covers basic expenses