The Conference Board Consumer Confidence Index declined sequentially in June to 62.0 from 64.4 in May. The Expectations Index was down at 72.3 compared to 77.3 in May, while the Present Situation Index increased to 46.6 from 44.9 last month.
The monthly Consumer Confidence Survey conducted by Nielsen Holdings N.V. (NLSN: Quote) is based on a probability-design random sample.
Says Lynn Franco, director of Economic Indicators at the Conference Board said, "Consumer Confidence declined in June, the fourth consecutive moderate decline. Consumers were somewhat more positive about current conditions, but slightly more pessimistic about the short-term outlook."
Income expectations were down in June and the board expect that if the trend continues, spending may be restrained in the short-term. Further, the board said the improvement in the Present Situation Index, coupled with a moderate softening in consumer expectations points to little change in the pace of economic activity in the near-term.
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by RTT Staff Writer
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