US Conference Board Consumer Confidence Index dropped to 121.5 in June, down from 131.3 and missed expectation of 131.0. That’s also the lowest level since September 2017. Present Situation Index dropped to 162.6, down from 170.7. Expectations Index dropped to 94.1, down from 105.0.
Lynn Franco, Senior Director of Economic Indicators at The Conference Board said: “The decrease in the Present Situation Index was driven by a less favorable assessment of business and labor market conditions. Consumers’ expectations regarding the short-term outlook also retreated. The escalation in trade and tariff tensions earlier this month appears to have shaken consumers’ confidence. Although the Index remains at a high level, continued uncertainty could result in further volatility in the Index and, at some point, could even begin to diminish consumers’ confidence in the expansion.”
