NEW YORK - The consumer confidence index declined to 62.0 in June from a downwardly revised 64.4 last month, The Conference Board reported Tuesday.

The May index was originally reported as 64.9.

The present situation index grew to 46.6 from a downwardly revised 44.9, originally reported as 45.9, while the expectations index fell to 72.3 from a downwardly revised 77.3, originally reported as 77.6.

Economists polled by Thomson Reuters predicted a 63.5 reading for the index.

"Consumer confidence declined in June, the fourth consecutive moderate decline," said Lynn Franco, director of The Conference Board's Consumer Research Center. "Consumers were somewhat more positive about current conditions, but slightly more pessimistic about the short-term outlook. Income expectations, which had improved last month, declined in June. If this trend continues, spending may be restrained in the short-term. The improvement in the present situation index, coupled with a moderate softening in consumer expectations, suggests there will be little change in the pace of economic activity in the near term."

Business conditions were called "good" by 14.9% of respondents in June, up from 13.6% in May. Those saying conditions are "bad" rose to 35.1% from 34.7%.

The percentage of consumers expecting a pickup in business conditions in the next half year slid to 15.5% from 16.6%, while 16.2% said they expect conditions to worsen, up from 12.9% the prior month.

On the jobs front, those who believe jobs are "plentiful" rose to 7.8% in June from 7.5% in May, while the number saying jobs are "hard to get" increased to 41.5% this survey from 40.9%. The respondents who see fewer jobs becoming available in a half year, decreased to 20.6% from 21.5%. Those expecting more jobs to become available slipped to 14.1% from 15.4%, The Conference Board reported.

 

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