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25.06.2024

U.S. consumer confidence softens slightly in June

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.

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