US consumer confidence hits lowest level since September ’17
WASHINGTON (AP) — American consumers are feeling less confident this month as heightened trade tensions take a toll.
The Conference Board, a business research group, says its consumer confidence index fell to 121.5 in June from a revised 131.3 in June after rising in April and May. The June reading was the lowest since September 2017.
The index measures consumers’ assessment of current economic conditions and their expectations for the next six months. Both dropped this month.
Lynn Franco, an economist with the Conference Board, said escalating tensions from trade fights and tariffs appears to have shaken consumer confidence.
The U.S. has raised tariffs on $200 billion in Chinese imports in a yearlong trade dispute and is preparing to extend the import taxes to another $300 billion worth.