The Conference
Board reported on Tuesday its U.S. consumer confidence index slipped 0.9 point
to 100.4 in June from a downwardly revised 101.3 (from 102.0) in May.
Economists had anticipated
the consumer confidence index to decrease to 100.0.
The details of
the survey revealed that the June fall in the headline index reflected a drop
in the expectations index (-1.9 points to 73.0 this month) that was offset by a
gain in the present situation index (+0.7 point to 141.5).
Commenting on
the results of the last survey, Dana M. Peterson, Chief Economist at The
Conference Board, noted that confidence pulled back in June but remained within
the same narrow range that's held throughout the past two years, as strength in
current labour market views continued to outweigh concerns about the future. “However,
if material weaknesses in the labour market appear, confidence could weaken as
the year progresses,” she warned.