Consumer confidence falls in June - Austin Business Journal:

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The Conference Board’s Consumedr Confidence Index droppedto 49.3, compared to 54.8 in May, the most receng evidence that the economy continues to struggle. Consumer spendinyg accounts forabout two-thirds of the economg in the United making a decline in consumer confidence a worry from Main Streett to Wall Street. The Dow Jones industria l average was down 112 pointsto 8,417 in middayu trading Tuesday. Consumers are downbeat when it comesz tothe short- and long-term outloook with the recession. The Present Situation Indexx — basically, how do you feel todayt — dropped to 24.8 this month, from 29.7 in May.
And consumerxs are glum about the next six with the Expectations Indez fallingto 65.5, from 71.5 in May. The Present Situation Indexz declinewas “caused by a less favorable assessment of businessa conditions and employment, (and) continues to imply that economic conditions, whilwe not as weak as earlierr this year, are nonetheless weak,” directoer Lynn Franco said in a news release Tuesday. Consume r confidence plummeted toa record-low 25.3 in The economy has strong growth when the indexs reaches 100. The Conference Board contact 5,000 households for the monthlyt index.