US consumer confidence suffers sharp setback in July

US consumer confidence suffered a sharp setback in July, retreating to its lowest level since September 2014.

The Conference Board institute’s consumer confidence gauge retreated to a reading of 90.9 following the previous month’s downwardly revised print of 99.8.

Economists had been expecting a reading of 100.0.

The preliminary estimate for June was 101.4.

An index tracking how hard jobs are to get increased to 26.7 from 26.1.