(CercleFinance.com) – American consumer confidence deteriorated in June, but to a slightly lesser extent than expected, according to the index from the employers’ organization Conference Board published Tuesday.
The index for the month which is ending stands at 100.4 while economists expected it to be 100. The index for the month of May has been revised downwards, to 101.3 from 102.
The sub-index of consumer sentiment on the current situation rose to 141.5 against 140.8 the previous month, but that on the future situation fell to 73 after 74.9 in May.
According to the ConfBoard, the strength of the labor market is currently making it possible to offset household concerns about the future.
‘If a significant bout of weakness were to occur in the job market, however, consumer confidence could weaken as the year goes on,’ warns Dana Peterson, the organization’s chief economist.
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