Economics
US Consumer Confidence Hits 16-Month Low on Drag From Inflation
- Conference Board index sags to 98.7, lowest since February ‘21
- Expectations index plummets to worst in nearly a decade
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US consumer confidence dropped in June to the lowest in more than a year as inflation continues to dampen Americans’ economic views.
The Conference Board’s index decreased to 98.7 from a downwardly revised 103.2 reading in May, data Tuesday showed. The median forecast in a Bloomberg survey of economists called for a decline to 100.