NEW YORK—Consumer confidence, which had been steadily rising since March, has taken a small dip in June according to The Conference Board. The index dropped to 49.3 this month, which still isn’t anywhere near February’s dismal low of 25.2.
Consumer confidence hit a high of 54.9 in May, the highest since September of last year when it was 61.4.
The Conference Board also reported that its Present Situation Index dropped from 29.7 to 24.8, and the Expectations Index dropped from 71.5 in May to 65.5.
“After back-to-back months of strong gains, Consumer Confidence retreated in June,” commented Conference Board research director Lynn Franco. “The decline in the Present Situation Index, caused by a less favorable assessment of business conditions and employment, continues to imply that economic conditions, while not as weak as earlier this year, are nonetheless weak. Looking ahead, Expectations continue to suggest less negative conditions in the months ahead, as opposed to strong growth.”
The Conference Board’s Consumer Confidence Index uses a sample of 5,000 households to measure Americans’ perception of the economy on a monthly basis. Then research is done by the firm TNS.
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