Consumers’ Outlook on the Economy Hits Lowest Point in Nearly a Decade

Consumers’ short-term outlook for the U.S. economic system dropped sharply to its lowest level in almost a decade on concerns about inflation, the Conference Board’s consumer-confidence survey confirmed.

The consumer-confidence index, which hints at American attitudes towards jobs and the economic system, additionally fell, dropping to 98.7 in June, down 4.5 factors from 103.2 in May, the Conference Board stated on Tuesday. The board’s expectations index, which measures shoppers’ short-term outlook about the labor market, enterprise and earnings, reached a low of 66.4 in June from 73.7 the prior month. That was its lowest studying since March 2013.