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Consumer Confidence Takes Second Dip in June


July 13 — The Conference Board Consumer Confidence Index dropped more than 3 points in June on the heels of a 3.7 point dip in May.

The June Index fell to 58.5 from 61.7 in May and 65.4 in April.

The slide was, "driven by a less favorable assessment of current conditions and continued pessimism about the short-term outlook," said Lynn Franco, director of The Conference Board Research Center.

"Consumers rated both current business and labor market conditions less favorably than in May, and fewer consumers than last month foresee conditions improving over the next six months," Franco added.

The Index is based on a monthly, probability-design random sample survey of consumers.

Read the full news release from The Conference Board.