According to the University of Michigan’s consumer sentiment index, consumer confidence declined slightly in June to 84.1, following the previous month’s reading of 84.5, a high since 2007. Current conditions solely contributed to the decline, as future expectations increased.
The present conditions portion of the index dropped to 93.8, down 4.2 index points from the previous month. Unlike present conditions, future conditions rose 2.0 index points to 77.8.
Inflationary expectations declined slightly for the one-year expectations, and remained unchanged for the five-year expectations, reporting 3.0% and 2.9% respectively.