US consumer confidence eased this month due to a more muted outlook for business conditions, the job market, and incomes. The Conference Board’s gauge of sentiment decreased to 100.4 from a downwardly revised 101.3 reading in May . Specifically, expectations for the next six months fell nearly 2 points to 73, while present conditions increased from a downwardly revised May reading.
Interestingly, only 12.5% of consumers expect business conditions to improve in the next six months, which is the smallest share since 2011. This cautious sentiment reflects various factors, including a higher cost of living, elevated borrowing costs, and recent softening in the labor market.
🇺🇸 12.5% of US consumers expecting better business conditions over next 6 months.
𝗟𝗼𝘄𝗲𝘀𝘁 𝘀𝗶𝗻𝗰𝗲 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟭𝟭!
Chart: @KevRGordon pic.twitter.com/KjuNtvOg6P
— Alex Joosten (@joosteninvestor) June 25, 2024
A $1.2 trillion freight train of regulation is coming that will wipe out small business, cost you thousands of dollars, and break everything from air conditioners and furnaces to gas ovens.
Biden’s handlers are on track to exceed even the famously destructive Obama in… pic.twitter.com/2HnhNdF6OQ
— Peter St Onge, Ph.D. (@profstonge) June 25, 2024