The Conference Board reported a weaker reading on its Consumer Confidence Index (CCI) for June. Consumers’ views of their current situation and their expectations for business conditions over the next six months have been quite negative. Indeed, approximately 86% of respondents anticipate that future prospects for job and income growth will be either the same or worse over the next six months. Ebbing energy prices did cause consumers to rein in their expectations for inflation over the next 12 months somewhat, but the rate of inflation they are anticipating remains close to three-year highs.
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Source: National Association of Home Builders
