Consumer Confidence Index Decreases for Second Consecutive Month

According to The Conference Board’s June 28, 2022 press release, the Consumer Confidence Index fell for the second consecutive month to 98.7 (1985=100) in June, representing a 4.5 point lowering, or about a 4.4% decrease from the 103.2 Index in May 2022; and now stands at the lowest level since the 95.2 Index in February 2021. The Present Situation Index declined marginally, lowering 0.4 points from the previous month to 147.1; and is based on consumers’ assessment of current business and labor market conditions. In contrast, the Expectations Index, which is based on consumers’ short-term outlook for income, business, and labor market conditions decreased sharply by 7.3 points to 66.4—the lowest level since the March 2013 63.7 Index.