US Consumer Confidence Edges Up to 91.2 as Jobs Views Weaken and Oil Prices Fall
Updated
Updated · PR Newswire · Jun 30
US Consumer Confidence Edges Up to 91.2 as Jobs Views Weaken and Oil Prices Fall
3 articles · Updated · PR Newswire · Jun 30
Summary
The Conference Board’s consumer confidence index rose 0.6 point to 91.2 in June, a modest gain from May’s revised 90.6 as lower oil prices eased inflation fears.
The improvement came entirely from expectations: the Expectations Index climbed 3.0 points to 74.4, while the Present Situation Index fell 3.0 points to 116.4.
Labor-market sentiment softened notably, with the share saying jobs were “hard to get” rising to 22.5%—the highest since January 2021—and the labor-market differential dropping 2.6 points to 2.4.
Consumers were more upbeat about business conditions and incomes six months ahead, helped by the June 1-23 survey period that included an extension of the US-Iran ceasefire and calmer inflation expectations.
Even so, views of current family finances worsened for a third straight month, recession worries ticked up, and most consumers still expected higher interest rates over the next year.