The consumer confidence index fell to 90.9 in July from a revised 99.8 last month, The Conference Board reported Tuesday.
The June index was originally reported as 101.4.
Economists polled by Thomson Reuters predicted a 100.0 reading for the index.
The present situation index slipped to 107.4 from a revised 110.3, first reported as 111.6, while the expectations index plunged to 79.9 from a revised 92.8, first reported as 94.6.
"Consumer confidence declined sharply in July, following a gain in June. Consumers continue to assess current conditions favorably, but their short-term expectations deteriorated this month," said Lynn Franco, director of The Conference Board's economic indicators. "A less optimistic outlook for the labor market, and perhaps the uncertainty and volatility in financial markets prompted by the situation in Greece and China, appears to have shaken consumers' confidence. Overall, the Index remains at levels associated with an expanding economy and a relatively confident consumer."
Business conditions were called "good" by 24.2% of respondents in July, off from 26.1% in June. Those saying conditions are "bad" fell to 17.9% from 18.0%.
The percentage of consumers expecting a pickup in business conditions in the next half year dropped to 14.7% from 17.9%, while 10.7% said they expect conditions to worsen, up from 10.2% in the prior month.
On the jobs front, those who believe jobs are "plentiful" dipped to 20.7% in July from 21.3% in June, while the number saying jobs are "hard to get" grew to 26.7% from 26.1%. The respondents who see fewer jobs becoming available in a half year, increased to 20.0% from 15.2%. Those expecting more jobs to become available slid to 13.1% from 17.1%, The Conference Board reported.
The consumer confidence survey is based on a probability design random sample by the Nielsen Company.
