USA: further deterioration in consumer confidence – 06/28/2022 at 16:14

(CercleFinance.com) – Consumer confidence in the United States deteriorated again in June, according to the results of the Conference Board’s monthly survey published on Tuesday.

The confidence index calculated by the employers’ organization fell by 4.5 points this month to return to 98.7, its lowest level since February 2021, after 103.2 in May.

Economists on average were forecasting a pullback to 101.

The index measuring consumers’ judgment of their current situation fell only very slightly, to 147.1 from 147.4 last month, but that of their expectations fell to 66.4, after 73.7 in May. , a new low since March 2013.

Lynn Franco, the director of economic research at the Conference Board, explains this bout of weakness by the growing concern of consumers about inflation, especially as it relates to gas and food prices.

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