NEW YORK — Americans are looking past the stock market surge and signs of a stabilizing economy and focusing on something more personal — job worries.
Consumer confidence fell this month, the Conference Board said Tuesday, presenting a big obstacle for already hammered stores as they head into the critical back-to-school shopping season.
The confidence index fell to 46.6, down from 49.3 in June and weaker than what economists were expecting. It takes a reading above 90 to signal that Americans believe the economy is on solid footing.
The second straight month of declining confidence followed an upbeat report offering more evidence that the real estate market is showing signs of life.
According to a widely watched index, home prices in May posted their first monthly increase since the summer of 2006.
But vanishing job security and reduced work hours continue to plague shoppers, who are relying more on their paychecks and less on credit cards and home-equity loans.
