Americans felt slightly better about the economy in June as gasoline prices declined, though consumer confidence remains below levels seen a year ago.
Consumer Confidence Index
The Conference Board reported that its Consumer Confidence Index rose 0.6 points to 91.2 in June. While the increase marks modest improvement from May, the index remains below its June 2025 reading of 95.2 and well below pre-pandemic levels, when readings above 120 were common.
The organization said lower fuel prices helped improve consumers’ outlook on inflation, although concerns about the job market continued to weigh on overall confidence.
“Consumer confidence inched up in June as falling oil prices in recent weeks provided some relief to consumer inflation fears,” said Dana Peterson, chief economist at The Conference Board. “Consumer appraisals of current business conditions were slightly more positive compared to last month. However, perceptions of the current labor market softened.”
Despite lingering concerns about the economy, consumer spending has remained steady. A government report released earlier this month showed Americans increased their spending in May, and many economists expect consumer spending helped keep the U.S. economy growing during the second quarter of the year.
Gasoline prices have also continued to move lower in recent weeks. According to AAA, the national average price for a gallon of regular gasoline has fallen to about $3.85, down from highs above $4.50 earlier this year.
The Conference Board survey also found that more Americans believe jobs are becoming harder to find. The percentage of respondents who said jobs are “hard to get” increased to 22.5%, up from 19.8% in May.
At the same time, other labor market indicators remain relatively stable. Federal data released Wednesday showed there were 7.6 million job openings nationwide in May.
The Labor Department is scheduled to release its June employment report Thursday. Economists expect the report to show employers added about 100,000 jobs during the month, while the unemployment rate is forecast to remain at 4.3%.
Original reporting: WOWO News/Talk (Fort Wayne) — read the source article.
