![]() The board said that consumers’ fears of a recession declined in June, with 69.3% of respondents saying a recession is somewhat or very likely in the next 12 months, down from 73.2% in May.Ĭonsumer spending, which makes up about 70% of U.S. ![]() The Conference Board noted that reading has come in below 80 every month but one since February of 2022. The board’s expectations index - a measure of consumers’ six-month outlook for income, business and labor conditions - climbed to 79.3 this month from 71.5 in May.Ī reading under 80 often signals a recession in the coming year. The business research group’s present situation index - which measures consumers’ assessment of current business and labor market conditions - rose to 155.3 from 148.9 in May. That’s the highest the reading has been since January of 2022 and much higher than economists had forecast. The Conference Board reported Tuesday that its consumer confidence index rose to 109.7 in June from 102.5 in May. WASHINGTON (AP) - The American consumer’s confidence jumped in June to its highest level in 18 months as a strong labor market continues to buoy the U.S.
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