All about business

A key index of consumer confidence fell more than expected in July as the dismal job market continued to darken the outlook for household spending.

The Conference Board, a New York-based business research group, said Tuesday its Consumer Confidence Index fell to 46.6 in July from a reading of 49.3 in June.

Economists had expected the index to decline to 49, according to a consensus forecast gathered by Briefing.com.

The measure’s present situation index fell to 23.4 from 25 last month. The expectations index slipped to 62 from 65.5.

The overall index, which fell to an all-time low in February, had recovered earlier this year as consumers were heartened by a rally on Wall Street, lower energy prices and new government programs to aid the economy.

But that optimism was premature and has given way to concerns about the weak job market, according to Adam York, an economist at Wells Fargo Economics Group.

"Now it seems we have a renewed sinking feeling," York said in a research report.

In June, the economy lost 467,000 jobs and the unemployment rate rose to 9 business