The Conference Board Consumer Confidence Index declined in June, the fourth consecutive month it has fallen.
The Index now stands at 62.0, down from 64.4 in May.
“Consumers were somewhat more positive about current conditions, but slightly more pessimistic about the short-term outlook,” said Lynn Franco, director of economic indicators at the Conference Board, in a statement. “If this trend continues, spending may be restrained in the short-term.”
However, consumers’ assessment of current conditions improved a bit in June. Survey respondents feeling business conditions are currently “good” increased to 14.9 percent, from 13.6 percent in May. But those saying business conditions are “bad” increased to 35.1 percent from 34.7 percent.
The percentage of consumers anticipating business conditions to improve over the next six months declined to 15.5 percent, from 16.6 percent the previous month. Those expecting business conditions to worsen increased to 16.2 percent, from 12.9 percent.
In March, consumer confidence hit a four-year high, but has declined in the months since then.