Consumer Confidence Index in U.S. Fell to 80.3 in July

Confidence among U.S. consumers declined in July from a five-year high as higher borrowing costs and gasoline prices tempered Americans’ outlook for the economy, even as their assessment of current conditions improved.

The Conference Board’s index decreased to 80.3, the second-highest level since January 2008, from a revised 82.1 the prior month, the New York-based private research group said today. The median forecast in a Bloomberg survey of economists called for a reading of 81.3. Another report showed home prices rose in May by the most in more than seven years.