US consumer confidence eased this month on a more muted outlook for business conditions, the job market and incomes.
The Conference Board’s gauge of sentiment decreased to 100.4 from a downwardly revised 101.3 reading in May, data out Tuesday showed. June’s measure of expectations for the next six months fell nearly 2 points to 73, while present conditions increased from a downwardly revised May reading.
Confidence has been subdued over the past few years as consumers contend with a higher cost of living, elevated borrowing costs and, more recently, a softening in the labor market. Only 12.5% of consumers expect business conditions to improve in the next six months, the smallest share since 2011.
US consumer confidence eased this month as Americans’ outlook for the economy deteriorated. https://t.co/Ma7ORsFUwm
— Bloomberg (@business) June 25, 2024