Industry News

‘Shifting’ economy impacts consumer confidence

Despite improvement, current outlook mixed

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

The Conference Board today reported that its Consumer Confidence Index, which had decreased in May, posted a slight increase in June. The index now stands at 105.7, up from 104.7 in May. Although the expectations index edged up to 87.6 from 85.1 last month, the present situation index decreased for the second consecutive month, down to 132.7 from 134.1 in May, according to The Conference Board. "The slight bounce-back in confidence this month was a result of the moderate improvement in consumers' expectations," said Lynn Franco, director of The Conference Board Consumer Research Center. "Despite the up-tick, consumers remain concerned about the short-term outlook. Furthermore, the present situation index lost ground for the second consecutive month, a signal that the economy is shifting into lower gear heading into the second half of this year." Consumers' overall assessment of current conditions, while favorable, declined again in June, according to The Con...