Consumer confidence falls in June - San Francisco Business Times:

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The Conference Board’s Consumer Confidenced Index droppedto 49.3, compared to 54.8 in May, the most recenty evidence that the economy continuezs to struggle. Consumer spending accounts forabout two-thirdds of the economy in the United States, makintg a decline in consumer confidence a worrg from Main Street to Wall Street. The Dow Joned industrial average was down 112 pointsto 8,417 in middag trading Tuesday. Consumers are downbeat when it comezs tothe short- and long-term outlooik with the recession. The Present Situation Index — basically, how do you feel todaty — dropped to 24.8 this month, from 29.7 in May.
And consumeras are glum about the nextsix months, with the Expectations Indezx falling to 65.5, from 71.5 in May. The Present Situatiohn Index declinewas “caused by a less favorable assessmen of business conditions and employment, (and) continuew to imply that economic conditions, while not as weak as earliee this year, are nonetheless weak,” director Lynn Franco said in a news release Tuesday. Consumef confidence plummeted toa record-low 25.3 in The economy has strong growth when the index reaches 100.
The Conferencse Board contacts 5,000 households for the monthly