Tuesday, June 29, 2010

Conference Board Consumer Confidence Drops by 9.8 Points

After rising briskly for two months, the Conference Board Index of Consumer Confidence fell in June by 9.8 points. This places the index at a level similar to where it was in March. The month’s decline was primarily driven by the future expectations component of the index, which fell 13.4 points. It has been this component that has caused most of the volatility in the index in recent months. The current conditions component also fell, but by a lesser 4.3 points. This decline is at odds with the consumer confidence findings of the last University of Michigan survey, which showed improvement in June. Regardless of what the true movement was during the month, confidence levels remain quite depressed by historical standards.

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