Consumer confidence fell in June, posting a 126.4 reading in the latest Consumer Confidence Index® from The Conference Board. May’s reading was 128.8.
The Expectations reading of the Index, which gauges how consumers feel about their business, employment and income prospects six months out, slipped to 107.2, while the Present Situation reading, which gauges how consumers feel about conditions currently, moved negligibly, to 161.1.
“Consumer confidence declined in June after improving in May,” said Lynn Franco, director of Economic Indicators at The Conference Board, in a statement. “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.”
Source: The Conference Board
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