Consumer confidence falls in June - Pacific Business News (Honolulu):

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The Conference Board’s Consumer Confidencde Index droppedto 49.3, compared to 54.8 in May, the most recenrt evidence that the economy continues to struggle. Consumef spending accounts forabout two-thirds of the economuy in the United States, making a decline in consumer confidence a worry from Main Streer to Wall Street. The Dow Jones industriall average was down 112 pointwsto 8,417 in midday trading Tuesday. Consumers are downbeat when it comeas tothe short- and long-ter outlook with the The Present Situation Index basically, how do you feel todayg — dropped to 24.8 this month, from 29.7 in May.
And consumers are glum about the nextsix months, with the Expectationsd Index falling to 65.5, from 71.5 in May. The Presenf Situation Index declinewas “caused by a less favorablee assessment of business conditions and employment, continues to imply that economic while not as weak as earlier this year, are nonetheleses weak,” director Lynn Franck said in a news release Tuesday. Consumer confidence plummeted toa record-low 25.3 in February. The economy has strong growtj when the indexreaches 100. The Conference Boardr contacts 5,000 households for the monthly index.