Consumers are slightly more concerned over the economy this month as they assess current business and labor market conditions, according to data released Tuesday.
The Conference Board said its Consumer Confidence Index dipped from 101.3 in May to 100.4 in June, while its Present Situation Index — based on consumers' gauge of current business and labor market conditions — improved from 140.8 last month to 141.5 in June.
But the nonprofit entity’s Expectations Index, which tracks consumers' short-term outlook for income, business and labor market conditions, fell from 74.9 in May to 73.0 in June. It has stayed below 80, the threshold which usually signals a recession ahead, for five straight months, the board said.
"Confidence pulled back in June but remained within the same narrow range that's held throughout the past two years, as strength in current labor market views continued to outweigh concerns about the future,” Dana M. Peterson, the board’s chief economist, ...Full story available on Benzinga.com
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