After two consecutive months of decline, the Consumer Confidence Index, reported by the Conference Board, rose in June.
The Consumer Confidence Index rose to 98 in June, from 92.4 in May. Both the present situation index and the expectations index increased. The present situation index rose to 118.3 in June, from 113.2 in May, and the expectations index rose to 84.5, from 78.5 in May.
Consumers’ confidence in current business conditions increased in June, but the improvement was qualified. The share of respondents rating business conditions “bad” declined from 21.4% to 17.7%. However, over three quarters of the net reduction in the share of respondents assessing business conditions as “bad” contributed to a net increase in assessments of “normal” with only the remainder contributing to the net increase in assessments of “good”. This shift might be viewed as less pessimistic rather than more optimistic. [read article]
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