U.S. consumer confidence sinks!
NEW YORK - June 30, 2009 – U.S. consumer confidence sank in June amid the prolonged Depression, retreating from an eight-month high the prior month, the Conference Board said Tuesday.
The business research group said its consumer confidence index fell to 49.3 points in June from a revised 54.8 in May.
Most analysts expected a much stronger reading of 55.3 points in the 100-point index.
However, the latest number remains higher than the April reading of 40.8, and is far better than the all-time bottom of 25.3 hit in February, the lowest level since tracking of the data began in 1967.
The business research group said its consumer confidence index fell to 49.3 points in June from a revised 54.8 in May.
Most analysts expected a much stronger reading of 55.3 points in the 100-point index.
However, the latest number remains higher than the April reading of 40.8, and is far better than the all-time bottom of 25.3 hit in February, the lowest level since tracking of the data began in 1967.
