The Conference Board index fell to 93.0 points in June, erasing the strong rise of May.
The Trust of American consumers It deteriorated in June, due to the growing concern for business conditions and employment prospects for the next semester.
The trust index of the Board Conference 5.4 points fell unexpectedly up to 93.0 this month, erasing almost half of the strong rise recorded in May, where it reached 98.4 points, after economists interviewed by Reuters predicted an increase in the index up to 100.0 points, meaning a new uncertainty factor among the markets.
According to the Chief Economist of Global Indicators of the Conference Board, Stephanie Guichard, “the decrease has been widespread in all components” and “both the valuation of the current situation and the expectations of the future of consumers have contributed to deterioration,” explained the hierarchy.
This decrease in confidence in the sixth month of the year was shared by all the age strips and practically all income groups, as well as all political affiliations, with a greater decrease among Republicans.
On the other hand, Guichard said: “The written responses of consumers reveal few changes since May in the main issues that affect their opinion on the economy. Tariffs remained one of the main concerns of consumers and were often associated with their negative impact on the economy and prices.”
Analysts cut their inflation expectations at 12 months
In the comparison with last month there were some mentions of moderation of inflation, pointing out that this “is in line with a cooling of average expectations to 12 months of consumers up to 6.0%”, compared to what was 6.4% in May and 7% of April.
“References to geopolitics and social discomfort increased slightly with respect to the previous months, but remained well below in the list of issues that affect consumers’ opinions,” he continued.
Source: Ambito
