Consumer confidence is falling in the US according to the Consumer Confidence Index, supplied by the Conference Board's Consumer Research Centre. The index has fallen slightly to 116.5 from 118.9 in June. Consumer confidence is critical for the US economy because it accounts for two thirds of the country's economic activity. The index started with a value of 100 when it began in 1985 and is based on a monthly survey of 5,000 US households.

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