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US – Consumer Confidence Falls in June

June 26 2012

The Conference Board’s consumer confidence index fell further in June following a decrease in May. The index now stands at a reading of 62.0 (1985=100), down from 64.4 in May.

“Consumer Confidence declined in June, the fourth consecutive moderate decline,” said Lynn Franco, director of The Conference Board consumer research center. “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.”

According to the index’s survey, consumers claiming jobs are “plentiful” increased to 7.8 percent in June from 7.5 percent in May. However, the percentage of consumers saying jobs are “hard to get” rose to 41.5 percent in June from 40.9 percent in May.

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