From Market Watch
By Ruth Mantell
WASHINGTON (MarketWatch) -- Consumer confidence fell in June - reaching the lowest level since November -- on concerns about employment and income, the Conference Board reported Tuesday. The nonprofit organization said its consumer-confidence index fell to 58.5 in June from an upwardly revised 61.7 in May. Economists surveyed by MarketWatch had expected a June reading of 60.5. Generally when the economy is growing at a good clip, confidence readings are at 90 and above. The future-expectations barometer fell to 72.4 in June from 76.7 in May, and the present-situation gauge fell to 37.6 from 39.3. "Consumers rated both current business and labor market conditions less favorably than in May, and fewer consumers than last month foresee conditions improving over the next six months," said Lynn Franco, director of the Conference Board's consumer research center, in a statement.
OUCH!
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