Consumer confidence falls in June according to Conference Board
The Conference Board’s Consumer Confidence Index for the United States was released in June 2019, indicating a decline from the previous month of May.
The Index now stands at 121.5 (1985=100), down from 131.3 in May. The Present Situation Index, based on consumers’ assessment of current business and labor market conditions, decreased from 170.7 to 162.6, while the Expectations Index, which is based on the short-term consumer outlook for income, business and labor market conditions, decreased from 105.0 last month to 94.1 this month.
Consumers’ appraisal of current-day conditions declined in June. Those claiming business conditions are “good” decreased from 38.4 percent to 36.7 percent, however, those saying business conditions are “bad” also decreased, from 11.7 percent to 10.9 percent. Consumers’ assessment of the labor market was lukewarm, with those saying jobs are “plentiful” decreasing from 45.3 percent to 44.0 percent, while those claiming jobs are “hard to get” rose from 11.8 percent to 16.4 percent.
Consumers were less optimistic about the short-term outlook in June. The percentage of consumers expecting business conditions will be better six months from now decreased from 21.4 percent to 18.1 percent, while those expecting business conditions will worsen rose from 8.8 percent to 13.1 percent.
The outlook for the labor market was also less favorable. The proportion of consumers expecting more jobs in the months ahead decreased from 18.4 percent to 17.3 percent, while those anticipating fewer jobs increased from 13.0 percent to 14.8 percent. Regarding their short-term income prospects, the percentage of consumers expecting an improvement decreased from 22.2 percent to 19.1 percent, while the proportion expecting a decrease inched up from 7.8 percent to 8.0 percent.