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Consumer Confidence Index Drops
Jul 2, 2010
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The Conference Board's Consumer Confidence Index declined in June after three months of steady gains. The June Index was 52.9, compared to 62.7 in May 2010.

The Conference Board said consumers had a less-favorable appraisal of current conditions in June. Those who called conditions "good" decreased from 9.7% in May to 8.0% in June. Those who said it was "bad" moved from 39.5% in May to 42.2% in June.

Consumers 'short-term outlook had been improving in May but became more pessimistic in June, the Conference Board reported. Only 17.2% expect improving business conditions in the next six month, down from 22.8% in May. Those who expect conditions to be worse were 14.9%, up from 11.9% in May.

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