Consumer Confidence Falls in June

NEW YORK--The Consumer Confidence Index registered 52.9 this month, down nearly 10 points from its May level of 62.7.

The June level marked the end of three consecutive months in which the index rose. A key factor in the falloff was a 13.4-point plummet in the Expectations Index to 71.2. The Present Situations Index, the other component of the overall index, decreased 4.3 points to 25.5.

The consumers surveyed for the index gave grim responses when queried about present and future business conditions and the job market both now and down the road. The percentages of those who said conditions in the business sector and the labor market were "bad" both increased, while the ratio of those rating business conditions and the jobs sector as "good" both fell. The percentages of consumers with a pessimistic view of current and future business conditions and job prospects also rose, while those who saw a rosier climate for both declined.

"Increasing uncertainty and apprehension about the future state of the economy and labor market, no doubt a result of the recent slowdown in job growth, are the primary reasons for the sharp reversal in confidence," said Lynn Franco, director of The Conference Board's Consumer Research Center. "Until the pace of job growth picks up, consumer confidence is not likely to pick up."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.