A key measure of the American economy slipped in June after three consecutive months of increases as consumers saw the trade war with China as an increased risk.
The U.S. Conference Board’s consumer confidence index declined to 121.5 this month, a drop of more than the decline to 131.1 that economists.
In May, the board reported a preliminary reading of 134.1 for the index, but revised last month’s number to 131.3 in the latest report.
The drop brought the index to its lowest level since September 2017.
Overall, consumers were less optimistic about the near future. The Conference Board’s survey found a decreasing number of Americans think business conditions will move forward six months from now, dropping to 18.1% of those surveyed to 21.4%.
