Consumer confidence downshifts
June 27, 2006,
Though managing a modest rally, the June reading won back only a fraction of the steep 4.6% fall-off during May, and the widely watched bellwether of future consumer spending remains 3.7% beneath the April reading of 109.8, which marked a 13-month high in the index.
"The slight bounce-back in confidence this month was a result of the moderate improvement in consumers' expectations," said Lynn Franco, director of the business think tank's Consumer Research Center.
Importantly, she noted, the component of the index which measures current conditions, "lost ground for a second consecutive month, a signal that the economy is shifting into lower gear heading into the second half of this year."
Consumers' overall assessment of current conditions, while favorable, declined for a second straight month, with the number claiming conditions are 'good' declining to 26.8% from 28.5% during May. Those claiming conditions are 'bad' eased to 14.9% from 15.2%.
Related Content By Author
Live From New York: Fashion Comes Across the Pond
Home & Textiles Today eDaily
Most Viewed Articles
See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more...