US consumer confidence deteriorated in June, with the Conference Board index falling from 98.3 to 93.0, missing expectations of 99.1. Present Situation Index dropped -6.4 points to 129.1. Expectations Index fell -4.6 points to 69.0, well below the 80 threshold that typically flags recession risks.
Senior Economist Stephanie Guichard noted that consumers were less upbeat about business conditions and job availability, with the latter weakening for a sixth straight month, albeit still consistent with a solid labor market.
More worryingly, the three key subcomponents of the Expectations Index—business outlook, job prospects, and future income—each declined. Consumers grew more pessimistic about economic conditions over the next six months, reflecting growing anxiety over both domestic headwinds and global uncertainties.
