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Washington, D.C. -- The Conference Board, in its monthly sentiment index released on Wednesday, said that confidence among U.S. consumers dropped in June for a fourth consecutive month, reaching a five-month low.
The research firm’s sentiment index fell to 62, from a revised 64.4 in May. The slide in confidence raises the risk that the recently revealed slowdown in hiring will cause households to curb spending.
The median forecast of 69 economists surveyed by Bloomberg News projected the U.S. confidence index would fall to 63.
The Conference Board’s confidence gauge reflected growing concern about the short-term outlook. The gauge of expectations for the next six months fell to 72.3, the lowest level since November, from 77.3 a month earlier. The measure of present conditions climbed to 46.6 from 44.9 in May.