U.S. consumer confidence in July remained near 28-year lows, an indication American adults continue to be concerned about rising energy and food prices, job layoffs, and the prospects for a U.S. economic recovery.

The Reuters/University of Michigan Surveys of Consumers said its reading of confidence rose just slightly to to 56.6 in July, from 56.4 in June. The index stood at 59.8 in May, 62.8 in April, and 69.5 in March, Reuters reported Friday.

The July reading was a scant rise and hardly a positive data point for the economy, given that June's reading was the index's lowest since May 1980 -- a period also characterized by high oil/gasoline prices and a sluggish U.S. economy.

Economists surveyed by Bloomberg News had predicted that the May index would fall to 56.0.

Americans 'guarded and concerned' about economy

Economist Peter Dawson told BloggingStocks Friday July's consumer sentiment reading did nothing to shift his evaluation regarding the American people's stance toward the U.S. economy.

"The public remains guarded and concerned, with little optimism, save for a few, fortunate income and wealth segments. We have the most serious economic downturn in a decade, from the stand point of the typical person or employee. Consumers are seeing gasoline and food prices rise by the week, and they're concerned about job losses," Dawson said. "When you combine job worries with price rises just about everywhere you look, with a housing sector that shows little signs of recovery, and the lower home values that trend implies, it doesn't breed consumer confidence, so it's not surprising the [University of] Michigan survey reading is near its lowest point in decades."

U.S. consumer confidence in early June plunged to its lowest level in 28 years, an indication American adults are becoming increasingly concerned about rising energy and food prices, job layoffs, and the prospects for a U.S. economic recovery.

The Reuters/University of Michigan Surveys of Consumers said its reading of confidence fell to 56.7 in June from 59.8 in May.

It was the index's lowest reading since May 1980 -- a period also characterized by high oil/gasoline prices and a sluggish U.S. economy.

Economists surveyed by Bloomberg News had predicted that the May index would fall to 59.8. The index stood at 62.8 in April 2008 and 69.5 in March.

U.S. public: jittery

Economist Peter Dawson told BloggingStocks Friday, June's consumer sentiment reading shows an American public "with a warranted case of the jitters."

U.S. consumer confidence in May 2008 plunged to its lowest level in almost 28 years, an indication American adults are very concerned about the near-term health of the U.S. economy as it slides into its first recession in six years.

The Reuters/University of Michigan Surveys of Consumers said its index of confidence fell to 59.5 in May 2008, Reuters reported Friday.

It was the index's lowest reading since June 1980 -- a period also characterized by high oil/gasoline prices and a sluggish U.S. economy.

Economists surveyed by Bloomberg News had predicted that the April 2008 index would fall to 62.5. The index stood at 63.2 in April 2008 and 69.5 in March 2008.

'An awful number'

Economist Peter Dawson told BloggingStocks Friday May's consumer sentiment reading reflects conditions on the ground. "It's an awful number, but it reflects conditions on Main Street, as the typical person experiences them," Dawson said. "We've got falling home prices, record-high gas prices, rising food prices, property taxes increasing in many areas, and no job growth. It's not a happy time for Americans right now and the University of Michigan sentiment numbers reflect that."