The US Consumer Confidence Index fell to a 16-month low in June as the rally in energy, food and other commodities continued to weigh on consumer psychology.
In particular, according to research by the non-profit organization Conference Board, the index fell to 98.7 points in June from 103.2 points in May, losing the estimates of analysts who expected a softer drop to 100 points, according to a Wall Street poll. Journal.
In the individual data, the index for the current conditions in the economy fell to 147.1 from 147.4 last month, while the index for consumer expectations fell to 66.4 – the lowest level since March 2013 – from 73 , 7 in May.
“Expectations have now fallen below the level of 80, a sign of weak growth in the second half of 2022 as well as an increased risk of recession by the end of the year,” said Lynn Franco, senior director of economic indicators at the Conference Board.
Source: Capital
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