The Conference Board said that its consumer confidence index slipped to 98.7 in June from 103.2 in May, the second straight monthly decline.
have Americans as pessimistic as they've been about the future in almost a decade.
The business research group’s expectations index, based on consumers’ six-month outlook for income, business and labor market conditions, tumbled in June to 66.4 — its lowest level since 2013 — from 73.7 in May. It has been a consistently weak spot in the survey recently.gas Inflation has soared over the past year at its fastest pace in more than 40 years, with rising costs for nearly everything negating Americans’ pay raises.in May from a year earlier, faster than April’s year-over-year increase of 8.3%, the Labor Department reported earlier this month. The new inflation figure was the highest since 1981 and came after the Federal Reserve raised its main borrowing rate by a half point in early May in its effort to tamp down rising inflation.
The Conference Board's survey showed that consumers grew more pessimistic about short-term business conditions, the job market and their own short-term financial prospects.
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