June consumer confidence falls
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The Associated Press - Published: July 1, 2009
NEW YORK — The New York-based Conference Board said Tuesday that its Consumer Confidence Index now stands at 49.3, down from its revised May level of 54.8. Because consumer spending accounts for more than two-thirds of economic activity in the United States, economists and investors watch it closely.
Both components of the consumer confidence gauge fell this month. The Present Situation Index of how shoppers feel now about the economy declined to 24.8 from 29.7 in May. And the board's Expectations Index, shoppers' outlook for the next six months, dropped to 65.5 from 71.5.
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