Consumer Confidence Slips in June

The Conference Board Consumer Confidence Index decreased 2.4 points to 126.4 in June. The Present Situation Index was nudged down 0.1 point to 161.1. The Expectations Index declined 4.0 points to 103.2.

“Consumer confidence declined in June after improving in May,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of present-day conditions was relatively unchanged, suggesting that the level of economic growth remains strong. While expectations remain high by historical standards, the modest curtailment in optimism suggests that consumers do not foresee the economy gaining much momentum in the months ahead.”

Consumers’ labor market outlook was slightly more positive in June. The percentage of consumers expecting more jobs in the coming months grew 0.3 point to 20.0 percent, while the share of those anticipating fewer jobs remained at 12.6 percent. Income expectations decreased, as 18.8 percent of consumers expected their incomes to increase in coming months. The proportion expecting a decline rose from 8.0 percent to 8.7 percent.

Read the Conference Board release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.