June’s Consumer Confidence Index increased by 0.6 points but missed economist forecasts of 94.2 amid persistent job market concerns.
The Conference Board’s Consumer Confidence Index rose to 91.2 in June, up 0.6 points from May’s revised 90.6, as cheaper oil eased inflation fears. The gain fell short of the 94.2 forecast by economists, with Bloomberg’s survey median at 94.4.
The Present Situation Index declined 3.0 points to 116.4, reflecting weaker views on current business and employment conditions. Meanwhile, the Expectations Index climbed 3.0 points to 74.4, driven by improved income and business outlooks over the next six months.
Labor market concerns weighed heavily, with 22.5% of respondents reporting difficulty finding jobs—a 5½-year high. The gap between those describing jobs as plentiful and those finding them scarce narrowed sharply.