Despite Sliding Consumer Confidence, Americans Still Spending
The Conference Board reported Tuesday morning that consumer confidence declined in July for the second straight month. And yet there are signs that back-to-school shopping isn't going to be a disaster. In the most recent week, sales rose 0.6 percent from the week before and were up 3.8 percent from the year before. Sales have risen from the week before in six of the last nine weeks; and over the past two months, weekly sales have been up between 2.5 percent and 4.2 percent from the year before.