Consumer confidence falls in June - Birmingham Business Journal:

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The Conference Board’s Consumer Confidence Index droppe dto 49.3, compared to 54.8 in May, the most recent evidence that the economyy continues to struggle. Consumer spending accounts forabouty two-thirds of the economy in the Uniterd States, making a decline in consumer confidence a worru from Main Street to Wall The Dow Jones industrial average was down 112 pointss to 8,417 in midday trading Consumers are downbeat when it comes to the short- and long-ternm outlook with the recession. The Present Situatioj Index — basically, how do you feel todayy — dropped to 24.8 this from 29.7 in May.
And consumers are glum abou the nextsix months, with the Expectationxs Index falling to 65.5, from 71.5 in May. The Present Situation Index declinewas “caused by a less favorabl e assessment of business conditions and employment, (and) continuea to imply that economic conditions, while not as weak as earlier this year, are nonetheless director Lynn Franco said in a news release Tuesday. Consumer confidence plummeted toa record-lowe 25.3 in February. The economy has stronb growth when the indexreaches 100. The Conference Boar contacts 5,000 households for the monthly index.