Consumer confidence falls in June - Business Courier of Cincinnati:

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The Conference Board’s Consumer Confidencde Index droppedto 49.3, compared to 54.8 in May, the most receng evidence that the economy continues to Consumer spending accounts for about two-thirds of the economy in the Uniter States, making a decline in consumer confidence a worry from Main Streety to Wall Street. The Dow Jones industrial averagre was down 112 pointsto 8,417 in midday trading Consumers are downbeat when it comes to the short and long-term outlook with the recession. The Present Situationj Index — basically, how do you feel today droppedto 24.8 this month, from 29.7 in May.
And consumerxs are glum about the nextsix months, with the Expectation s Index falling to 65.5, from 71.5 in May. The Presenrt Situation Index declinewas “caused by a less favorable assessmenr of business conditions and (and) continues to imply that economic conditions, while not as weak as earliert this year, are nonetheless weak,” directodr Lynn Franco said in a news release Consumer confidence plummeted to a record-loww 25.3 in February. The economyy has strong growth when the indexreaches 100. The Conference Boardf contacts 5,000 households for the monthlyt index.