The Conference Board US Consumer Confidence Index Rises in June

On Tuesday, The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, released the results of its Consumer Confidence Survey for June.

The Consumer Confidence Index increased 0.6 points in June, rising to a reading of 91.2 (1985=100) from a downwardly revised 90.6 in May.

The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell 3.0 points to a reading of 116.4.

The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—rose 3.0 points to a reading of 74.4. Expectations remained below the threshold of 80—which typically signals a recession ahead. The cutoff date for preliminary results was June 23.

In a statement accompanying the report, The Conference Board Chief Economist Dana Peterson said:

“Consumer confidence inched up in June as falling oil prices in recent weeks provided some relief to consumer inflation fears. Consumer appraisals of current business conditions were slightly more positive compared to last month. However, perceptions of the current labor market softened measurably as the percentage of consumers saying jobs were ‘hard to get’ rose to 22.5%, the highest level since January 2021 (22.8%). Moreover, consumers anticipate little change in the labor market six months from now. This was offset by improving expectations for business conditions and incomes.”