US consumer confidence weakens, misses expectations in June

According to the survey data published by a research group on Tuesday, the US consumer confidence declined in June and there were no concerns about President Donald Trump’s tariffs and higher inflation.

The Consumer Confidence Index of the Conference Board fell 5.4 points this month and fell from 98.4 to 93.0 in May.

“The consumer confidence has weakened in June and wiped almost half of the sharp earnings of May,” said Stephanie Guichard, a senior economist on the board of directors. He said.
Authority, the decline is “wide -based”, consumers’ current conditions and the expectations of the future, both contribute to deterioration, he added.

An estimation of a consensus by the analysts brief.com had envisaged an increase up to 99.0 points instead.

While consumers’ views on the current business existence worsening for a sixth plain months, they seemed more gloomy about business conditions and jobs in the next six months, but the main issues affecting their views on the economy have changed little from the previous month.

The report stated that inflation and high costs are another important concern.

While consumers follow geopolitics and social unrest, in June, these factors refer to more than previous months, while they remained lower in the list of issues affecting evaluations.

“The safe withdrawal of June was shared by all age groups and almost all income groups.” He said.

“It was also shared in all political relations with the biggest decline among the Republicans.”

In June, it was not sure of their plans to buy plans for sinking houses and buy more consumers in general.