U.S. consumer confidence sharply fell in June as worries about high inflation left consumers anticipating economic growth would significantly weaken in the second half of the year.
The Conference Board said on Tuesday, June 28, its consumer confidence index dropped 4.5 points to a reading of 98.7 this month.
The board’s expectations index, which measures consumers’ short-term outlook about the labor market, business and income, reached a low of 66.4 in June from 73.7 the prior month.
That was its lowest reading since March 2013. Read more.