Widget Image
Follow PPD Social Media
Connect With PPD
Thursday, September 19, 2019
HomeNewsEconomyConsumer Confidence in June Falls to Lowest Level Since September 2017

Consumer Confidence in June Falls to Lowest Level Since September 2017

Consumer confidence 3D gear graphic reporting the Conference Board Consumer Confidence Index.
Consumer confidence 3D gear graphic reporting the Conference Board Consumer Confidence Index.
Consumer confidence 3D gear graphic reporting the Conference Board Consumer Confidence Index.

The Conference Board’s Consumer Confidence Index fell from 131.3 in May 121.5 (1985=100) in June, the lowest level since September 2017. The decline from a 15-year high was driven largely by uncertainty surrounding tariffs.

IndicatorPriorRevisedConsensus ForecastForecast RangeResult
Consumer Confidence134.1 131.3 132.0 128.8 — 135.0 121.5 
Present Situation Index170.7162.6
Expectations Index105.094.1

The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – fell from 170.7 to 162.6. The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – fell from 105.0 to 94.1.

“After three consecutive months of improvement, Consumer Confidence declined in June to its lowest level since September 2017 (Index, 120.6),” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The decrease in the Present Situation Index was driven by a less favorable assessment of business and labor market conditions.”

Consumers’ expectations regarding the short-term outlook also retreated. The escalation in trade and tariff tensions earlier this month appears to have shaken consumers’ confidence,” Franco added. “Although the Index remains at a high level, continued uncertainty could result in further volatility in the Index and, at some point, could even begin to diminish consumers’ confidence in the expansion.”

The monthly Consumer Confidence Survey is based on a random sample probability, and is conducted for The Conference Board by Nielsen. The cutoff date for the preliminary results was June 14.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.