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June US Consumer Confidence Rises on Decline in Current Conditions, Expectations Higher

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The Conference Board's measure of consumer confidence rose to 91.2 in June from a downwardly revised 90.6 in May, below a reading of 94.4 expected in a survey compiled by Bloomberg.

The present situation reading fell to 116.4 from 119.4, while the expectations reading increased to 74.4 from 71.4.

"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."

The monthly consumer confidence index from the Conference Board measures consumer sentiment in the current month, with the headline index a combination of the present situation and expectations for the near future. The report also includes the current and future assessments for business and employment conditions.

An increase in the reading suggests consumers are more confident, a positive for stocks if that confidence translates into spending. Increased demand is usually inflationary, a negative for bonds.

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