US consumer confidence dipped slightly in June, as Americans grew more cautious about the future. The latest consumer confidence index from the Conference Board dropped to 100.4 from 101.3 in May, aligning with economists’ expectations. Consumer spending, which accounts for nearly 70% of US economic activity, is closely tied to confidence measurements. Concerns about the future weighed on consumers’ feelings about current business conditions, although they felt better about the labor market. The expectations index dropped, signaling a potential recession. Inflation remains above the target, influencing consumer confidence. The index suggests slowing consumption growth and a rising unemployment rate.
