June 26, 2019 Comments Off on Conference Board: Consumer Confidence Drops to Lowest Level Since September 2017 Views: 194 National News, Top National

Conference Board: Consumer Confidence Drops to Lowest Level Since September 2017

The Conference Board Consumer Confidence Index declined in June, following an increase in May. The Index now stands at 121.5 (1985=100), down from 131.3 in May.

The Present Situation Index, which is based on consumers’ assessment of current business and labor market conditions, decreased from 170.7 to 162.6. The Expectations Index, which is based on consumers’ short-term outlook for income, business and labor market conditions, decreased from 105.0 last month to 94.1 this month.

The Conference Board’s Lynn Franco says, “After two consecutive months of improvement, Consumer Confidence declined in June to its lowest level since September 2017 (Index, 120.6). 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.”

Franco noted that 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,” she noted.

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