Washington, Jul 28 (AP) US consumer confidence tumbled in July to a reading of 92.6 as coronavirus infections spread in many parts of the country.

The Conference Board, a New York-based research organization, reported Tuesday that its Consumer Confidence Index fell from a June reading of 98.3.

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The weakness came from a drop in the expectations index, which measures consumer views about the short-term outlook for income, business and labor market conditions.

The consumer confidence index is closely watched for signals it can send about future consumer spending, which accounts for 70% of economic activity.(AP)

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)