Confidence falls in July

NEW YORK - The Conference Board's Consumer Confidence Index slipped from 106.2 in June to 103.2 for July.

"This month's decline in consumer confidence is no cause for alarm," said Lynn Franco, director of the Conference Board's Consumer Research Center. "The overall state of the economy remains healthy, and consumers outlook suggests no storm clouds on the short-term horizon."

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The Present Situation Index decreased to 118.5 from 120.8, and the Expectations Index declined to 93 from 96.4.