Consumer Confidence Slid in June on Trade Tensions
June 25 2019 - 11:06AM
Dow Jones News
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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