Consumer Confidence Falls Again In June

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Economic Update: Consumer Confidence

The Conference Board’s Consumer Confidence Index disappointed again in June.

The index was reported at 62.0, which was well below the consensus expectation for a reading of 63.5 and the revised May reading of 64.4 (April: 68.7, March: 69.5, February: 71.6).

Lynn Franco, Director of the Consumer Research Center at The Conference Board said: “Consumer Confidence declined in June, the fourth consecutive moderate decline. Consumers were somewhat more positive about current conditions, but slightly more pessimistic about the short-term outlook. Income expectations, which had improved last month, declined in June. If this trend continues, spending may be restrained in the short-term. The improvement in the Present Situation Index, coupled with a moderate softening in consumer expectations, suggests there will be little change in the pace of economic activity in the near-term."

The Present Situation component came in at 46.4 vs. 44.9 in May

However, the expectations component fell to 72.3 from 77.3.

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS.

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Other stories on the US Economy to review:

• Case-Shiller Home Price Index Improves
  
• Chicago Fed National Activity Index Falls in May
  
• Existing Homes Sales Fall But Prices Rises
  
• LEI Rises in May: Points to "Muddle Through"
  
• Philly Fed Plunges in June
  
• Flash PMI in US Shows Manufacturing Growth Slowing
  
• Housing Starts Down But Permits Up Strong
  
• UofM's Consumer Sentiment also Weak
  
• Industrial Production and Capacity Utilization Below Expectations
  
• Empire Manufacturing Disappoints in June
  
• CPI Declines in May
  
• Business Inventories Above Expectations in April
  
• Retail Sales Fall Across Board in May
  
• PPI Shows Inflation Fell at Producer Level in May
  
• NFIB Small Business Optimism Pulls Back
  
• ISM Non-Manufacturing Index Above Expectations
  
• Some Good News: Employment Trend Index Moves Up
  
• May Jobs Report Disappoints Big Time
  
• ISM Report Shows Growth Slowing
  
• Q1 GDP Revised Lower

 

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