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Daily News

Consumer Confidence Declines
Jul 1, 2009
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The Conference Board Consumer Confidence Index fell in June, said the Conference Board. The Index now stands at 49.3, down from 54.8 in May. The Present Situation Index decreased to 24.8 from 29.7. The Expectations Index declined to 65.5 from 71.5 in May.

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS.

Consumers' appraisal of present-day conditions was less favorable in June. Those claiming business conditions are "good" decreased to 8.0% from 8.8% , while those saying conditions are "bad" increased to 45.6% from 44.5%. Consumers' assessment of the labor market was also less favorable. Those stating jobs are "hard to get" increased to 44.8% from 43.9%. Those saying jobs are "plentiful" decreased to 4.5% from 5.8%.

Consumers' short-term outlook also waned in June. Consumers anticipating an improvement in business conditions over the next six months decreased to 21.2% from 22.5%, while those expecting conditions will worsen increased to 20.2% from 18% in May.

The job outlook was also more pessimistic. Those anticipating more jobs in the months ahead decreased to 17.4% from 19.3%, while those anticipating fewer jobs increased to 27.3% from 25.6%. The proportion of consumers expecting an increase in their incomes declined to 9.8% from 10.8%.

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