The Consumer Confidence Index was 93 in June, down from 98.4 in May, the Conference Board said. The present situation index — based on consumers’ assessment of current business and labor market conditions — decreased 6.4 points to 129.1. The expectations index — based on consumers’ short-term outlook for income, business and labor market conditions — fell 4.6 points to 69.
“Consumer confidence weakened in June, erasing almost half of May’s sharp gains,” said Stephanie Guichard, senior economist, global indicators, at The Conference Board. “The decline was broad-based across components, with consumers’ assessments of the present situation and their expectations for the future both contributing to the deterioration. Consumers were less positive about current business conditions than May.”
