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The Conference Board Consumer Confidence Index decreased in June, following an increase in May. The Index now stands at 126.4 (1985=100), down from 128.8 in May. The Present Situation Index was relatively flat, 161.1 versus 161.2 last month, while the Expectations Index declined from 107.2 last month to 103.2 this month.
The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was June 15.
“Consumer confidence declined in June after improving in May,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of present-day conditions was relatively unchanged, suggesting that the level of economic growth remains strong. While expectations remain high by historical standards, the modest curtailment in optimism suggests that consumers do not foresee the economy gaining much momentum in the months ahead.”
Consumers’ appraisal of current conditions was relatively unchanged in June. The%age stating business conditions are “good” decreased from 38.6% to 36.0%, while those saying business conditions are “bad” also decreased, from 12.6% to 11.7%. Consumers’ assessment of the labor market was also mixed. The%age of consumers claiming jobs are “plentiful” decreased from 42.1% to 40.0%, but those claiming jobs are “hard to get” also decreased, from 15.6% to 14.9%.
Consumers’ optimism about the short-term outlook eased in June. The%age of consumers anticipating business conditions will improve over the next six months decreased from 23.3% to 21.4%, while those expecting business conditions will worsen rose from 7.8% to 9.8%. Consumers’ outlook for the labor market, however, was slightly more favorable. The proportion expecting more jobs in the months ahead increased marginally, from 19.7% to 20.0%, while those anticipating fewer jobs decreased, from 13.1% to 12.6%. Regarding their short-term income prospects, the%age of consumers expecting an improvement declined, from 21.4% to 18.8%, while the proportion expecting a decrease rose from 8.0% to 8.7%.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. Winner of the Consensus Economics 2016 Forecast Accuracy Award (U.S.), The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
