The Conference Board said Tuesday that its consumer confidence index fell to 93 in June, as Americans’ view of the economy resumed a downward slide after May’s brief uptick, the Associated Press reports. The index was down 5.4 points in June from 98.4 last month.
Economists had forecast a small rise in the index this month, so the regression comes as a surprise. In April, U.S. consumers’ confidence in the economy sank to its lowest level since May 2020, largely in response to the impact of President Donald Trump’s tariffs.
A measure of consumers’ short-term expectations for their income, business conditions and job market dropped 4.6 points to 69 this month — well below 80, which can signal a coming recession.
