Following May’s reading of 100, the University of Michigan’s Consumer Confidence Index came in at 98.2 in its final reading for June and surpassed the market expectation of 98.
“June’s small overall decline was entirely due to households with incomes in the top third of the distribution, who more frequently mentioned the negative impact of tariffs, cited by 45%, up from 30% last month,” said Surveys of Consumers chief economist, Richard Curtin. “Most of the June slippage was concentrated in prospects for the national economy, with the unemployment rate expected to inch upward instead of drifting downward in the year ahead.”
The greenback largely ignored the data and the US Dollar Index was last seen losing 0.12% on the day at 96.10.
Share
