The Consumer Confidence Index in July saw a slight pullback from June's reading as the short-term expectations index weakened due in part to a less robust outlook for the jobs market six months out.
The index now is at 80.3, down from 82.1 in June. June's reading was the highest since January 2008, as well as the third consecutive month both the current conditions and expectations for the short-term outlook showed improvement in consumer sentiment. While the current reading of 80.3 is relatively high, it is still below the index reading of 90 that is considered that of a healthy economy. The last time that reading was reached was in December 2007.
So while consumers are still somewhat optimistic about current business and labor market conditions, what changed from last month was their opinion on the jobs front.
Of the two components that comprise the index, the present situations index rose to 73.6 from 68.7, while the expectations index fell to 84.7 from 91.1 in June, according to The Conference Board, which conducts the monthly survey.
Lynn Franco, director of economic indicators at The Conference Board, said, "Consumers’ assessment of current conditions continues to gain ground and expectations remain in expansionary territory despite the July retreat. Overall, indications are that the economy is strengthening and may even gain some momentum in the months ahead.”
For now, consumers who said jobs are "plentiful" rose to 12.2 percent from 11.3 percent. The increase seems marginal when compared with expectations six months out. Of those surveyed, respondents who said they expect more jobs ahead fell to 16.5 percent from 19.7 percent, while those who anticipated fewer jobs rose to 18.1 percent from 16.1 percent.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)