Consumer confidence dips from 5-year high

Associated Press

WASHINGTON

Americans’ confidence in the economy fell only slightly in July but stayed close to a 51/2-year high, a sign that consumers should continue to help drive growth in the coming months.

The Conference Board, a New York-based private research group, said Tuesday that its consumer confidence index dipped to 80.3 in July. That’s down from a reading of 82.1 in June, which was revised slightly higher and the best reading since January 2008.

Despite the slight drop in July, confidence remains well above year-ago levels. And consumers are more optimistic about the current job market.