Consumer confidence slipped in June

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by Associated Press

WCNC.com

Posted on June 26, 2012 at 10:46 AM

NEW YORK (AP) -- A private group says that consumer confidence fell in June for the fourth month in a row as lingering worries about the economy outweighed relief at the gas pump. 

The Conference Board says Tuesday that its Consumer Confidence Index is now at 62, down from 64.4 in May. Economists had expected a reading of 63.2.  

The index remains well below the 90 reading that indicates a healthy economy -- a level it hasn't been near since the recession began in December 2007. But it's far from the all-time low of 25.3 reached in February 2009.  

The indicator is widely watched because consumer spending, including major items like health care, accounts for 70 percent of U.S. economic activity.
 

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