US Consumer Confidence Declines Slightly in June
Americans are more cautious about near-term economic prospects despite a resilient labor market.
- The Conference Board's consumer confidence index fell to 100.4 from 101.3 in May.
- Short-term expectations for income, business, and the job market dropped to 73, signaling potential recession.
- Consumers' view of current conditions improved slightly, driven by positive labor market sentiment.
- Inflation expectations for the next year decreased marginally from 5.4% to 5.3%.
- Retailers report that consumers are becoming more price-conscious and selective in their spending.
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