US June consumer confidence 93.0 vs 100.0 expected

• Prior was 98.0
• Present Situation Index 129.1 vs. 135.5 prior
• Expectations Index 69.0 vs 73.6 prior
• 12-month inflation expectations 6.0% vs 6.4% prior
• Jobs hard-to-get at 18.1% vs 18.4% prior

“Consumer confidence weakened in June, erasing almost half of May’s sharp gains,” said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board.
“The decline was broad-based across components, with consumers’
assessments of the present situation and their expectations for the
future both contributing to the deterioration. Consumers were less
positive about current business conditions than May. Their appraisal of
current job availability weakened for the sixth consecutive month but
remained in positive territory, in line with the still-solid labor
market. The three components of the Expectations Index—business
conditions, employment prospects, and future income—all weakened.
Consumers were more pessimistic about business conditions and job
availability over the next six months, and optimism about future income
prospects eroded slightly.”

These numbers remain dismal but the market has been burned too many times by sentiment data that doesn’t match up with spending.

This article was written by Adam Button at www.forexlive.com.