By Harriet Torry 

A gauge of consumer sentiment deteriorated in June to its lowest level in nearly two years, as consumers' outlook on the economy worsened due to escalating trade tensions.

The Conference Board, a private research group, said Tuesday its index of consumer confidence fell to 121.5 in June, down from 131.3 in May. The June reading marked the lowest level since September 2017.

The reading for June also fell short of expectations: economists surveyed by The Wall Street Journal had expected a reading of 131.

A gauge of household assessments about the present economic situation decreased to 162.6 from 170.7, while an index tracking expectations for the future decreased to 94.1 from 105.0 last month.

"The escalation in trade and tariff tensions earlier this month appears to have shaken consumers' confidence," said Lynn Franco, director of economic indicators at the board.

Write to Harriet Torry at harriet.torry@wsj.com

 

(END) Dow Jones Newswires

June 25, 2019 10:51 ET (14:51 GMT)

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