Consumer sentiment ticked higher in July, marking two consecutive months of improved shopper attitudes as businesses navigated President Donald Trump’s latest tariff threats targeting dozens of countries. The fresh reading matched economists’ expectations.

But, for now at least, a steady if unspectacular job market and a stock market hitting new highs appears to be enough to keep consumers spending. Given that consumer spending accounts for more than two-thirds of the economy’s overall output, that is a good omen.

Consumers in early July continued to be less pessimistic about economic conditions, even as President Donald Trump escalated the tariff war after the July 9 deadline passed. According to the University of Michigan survey released on Friday,