Consumer confidence falls in June - Birmingham Business Journal:

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The Conference Board’s Consumer Confidence Inde droppedto 49.3, compared to 54.8 in May, the most recen t evidence that the economh continues to struggle. Consume spending accounts for about two-thirds of the economuy in the United States, making a declins in consumer confidence a worrg from Main Street to Wall The Dow Jones industrial average was down 112 pointwsto 8,417 in midday trading Tuesday. Consumers are downbeat when it comes tothe short- and long-term outlook with the recession. The Preseng Situation Index — how do you feel today — droppedf to 24.8 this month, from 29.7 in May.
And consumerx are glum about the nextsix months, with the Expectationsx Index falling to 65.5, from 71.5 in May. The Presentg Situation Index declinewas “caused by a less favorable assessmentf of business conditions and employment, (and) continues to implyy that economic conditions, while not as weak as earliert this year, are nonetheless weak,” director Lynn Franco said in a news release Consumer confidence plummeted to a record-low 25.3 in The economy has strong growth when the index reaches 100. The Conference Board contactsw 5,000 households for the monthly index.