US Consumer Confidence Dips in June: Americans' Pessimistic Short-Term Expectations Impact Current Business Conditions

Washington D.C., District of Columbia United States of America
Americans' concerns about the future of the economy caused the decline in consumer confidence
Expectations index fell to 73.0 in June from 74.9 in May
Present situation index increased slightly to 141.5 in June
The Conference Board's Consumer Confidence Index dropped to 100.4 from a revised level of 101.3 in May
US consumer confidence decreased in June
US Consumer Confidence Dips in June: Americans' Pessimistic Short-Term Expectations Impact Current Business Conditions

US Consumer Confidence Decreases in June: Americans' Short-Term Expectations Negatively Impact Current Business Conditions

According to recent data released by various sources, US consumer confidence decreased in June. The Conference Board's Consumer Confidence Index dropped to 100.4 from a revised level of 101.3 in May.

The present situation index, which measures consumers' assessment of current business and labor market conditions, increased slightly to 141.5 in June from 140.8 the previous month.

However, the expectations index, which reflects consumers' short-term outlook for income, business, and labor market conditions, fell to 73.0 in June from 74.9 in May.

The decline in consumer confidence can be attributed to Americans' concerns about the future of the economy. The expectations index has been below the threshold of 80 for five consecutive months, which is considered a potential recession indicator.

Despite these concerns, there are some positive signs. For instance, consumers felt better about labor market conditions in June compared to May.

Moreover, the share of consumers planning a vacation continued to increase and remains above last June's level. More consumers are planning to travel within the US than abroad.

It is important to note that consumer confidence can be influenced by various factors, including economic indicators, political events, and media coverage. As such, it is crucial for journalists to provide a comprehensive analysis of all available data and avoid drawing conclusions without solid evidence.

Sources:

  • The Conference Board: Consumer Confidence Index
  • CNN: Americans felt shakier about the economy in June
  • PR Newswire: US Consumer Confidence Weakens Slightly in June

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Confidence

85%

Doubts
  • Are there any specific economic indicators that suggest a recession is imminent?
  • Is the decline in consumer confidence solely due to concerns about the economy, or are there other factors at play?

Sources

93%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Americans felt shakier about the economy in June

CNN News Site: In-Depth Reporting and Analysis with Some Financial Conflicts and Sensational Language Alicia Wallace Tuesday, 25 June 2024 14:32
  • Unique Points
    • Americans felt better about the labor market but concerns about the future caused a drop in consumers’ feelings on current business conditions.
    • The expectations index dropped to 73, marking the fifth consecutive month below 80, which is considered a threshold signaling a recession is ahead.
  • Accuracy
    • US consumer confidence dipped to 100.4 in June from a downwardly revised level of 101.3 in May.
    • Consumer spending accounts for nearly 70% of US economic activity.
  • Deception (80%)
    The article contains selective reporting as it only reports the dip in the consumer confidence index without mentioning that it still remains above the potential recession threshold. It also uses editorializing language such as ' Americans grew a little warier about the future' and 'material weaknesses in the labor market could weaken confidence'. These statements are not facts but rather interpretations of data by Alicia Wallace.
    • material weaknesses in the labor market could weaken confidence
    • Americans grew a little warier about the future
  • Fallacies (95%)
    The author makes several statements in the article that are not fallacious. However, there is one instance of an appeal to authority when Dana Peterson's statement about material weaknesses in the labor market potentially leading to weakening confidence is cited without any further context or evidence provided. This lowers the score slightly.
    • “However, if material weaknesses in the labor market appear, confidence could weaken as the year progresses,” she said in a statement.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

91%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Bloomberg - Are you a robot?

Bloomberg News Now Tuesday, 25 June 2024 17:23
  • Unique Points
    • US consumer confidence decreases in June
    • Americans’ short-term expectations negatively impacted consumer confidence
  • Accuracy
    • US consumer confidence dipped to 100.4 in June from a downwardly revised level of 101.3 in May.
    • The expectations index dropped to 73, marking the fifth consecutive month below 80, which is considered a threshold signaling a recession is ahead.
    • Consumer Confidence Index decreases to 100.4 in June from 101.3 in May
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication

92%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

US Consumer Confidence Weakens Slightly in June

PR Newswire The Conference Tuesday, 25 June 2024 17:24
  • Unique Points
    • Consumer Confidence Index decreased to 100.4 in June from 101.3 in May
    • Expectations Index fell to 73.0 in June, down from 74.9 in May
    • Share of consumers planning a vacation continued to increase and remains above last June’s level with more consumers planning to travel in the US than abroad
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (85%)
    The article contains editorializing and selective reporting. The author expresses their opinion that 'confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years' and 'if material weaknesses in the labor market appear, Confidence could weaken as the year progresses.' These statements are not facts, but rather interpretations of data. Additionally, while reporting on a decline in confidence between May and June, the author selectively reports that this decline was 'centered on consumers aged 35-54' without mentioning any other demographic information or context. This could give readers a skewed understanding of the data.
    • Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labor market views continued to outweigh concerns about the future.
    • The Conference Board Consumer Confidence Index® dipped in June to 100.4 (1985=100), down from 101.3 in May.
    • The decline in confidence between May and June was centered on consumers aged 35-54.
  • Fallacies (85%)
    The author makes an appeal to authority by stating that the Consumer Confidence Index dipped in June and has been below 80 for five consecutive months, implying that this is a significant indicator of economic conditions. However, the author does not provide any context or explanation as to why this threshold is significant or what it means for consumers or the economy as a whole.
    • ] The Expectations Index has been below 80 (the threshold which usually signals a recession ahead) for five consecutive months.[
    • The Consumer Confidence Index dipped in June to 100.4 (1985=100), down from 101.3 in May.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

96%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

US consumer confidence falls in June, dragged down by Americans' short-term expectations

ABC NEWS SITE NAMES Name: ABC News Site Names URL: https://abcnews.go.com/Politics/us-officially-blames-iran_106834435 ABC News Tuesday, 25 June 2024 17:24
  • Unique Points
    • US consumer confidence decreases in June
    • Americans’ short-term expectations negatively impacted consumer confidence
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication