Consumer confidence sours in June, despite rollback of Trump's tariffs
Source: ABC News
June 24, 2025, 10:27 AM
Consumer confidence soured in June, erasing some of the boost in shopper attitudes that took hold last month as President Donald Trump rolled back tariffs, Conference Board data on Tuesday showed. The reading fell short of economists' expectations.
The fresh data resumes a trend of worsening consumer confidence that stretches back to the outset of 2025. Last month, a burst of enthusiasm appeared to snap the malaise but fresh data suggests shoppers remain concerned about the path of the U.S. economy.
The decline in consumer confidence took hold across all age, income demographics and political affiliations, the Conference Board said, noting an especially large dropoff among Republicans.
"Consumer confidence weakened in June, erasing almost half of May's sharp gains," Stephanie Guichard, senior economist for global indicators at the Conference Board, said in a statement.
Read more: https://abcnews.go.com/Business/consumer-confidence-sours-june-despite-rollback-trumps-tariffs/story?id=123149476
Link to Conference Board PRESS RELEASE - US Consumer Confidence Retreats in June
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“Consumer confidence weakened in June, erasing almost half of May’s sharp gains,” said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board. “The decline was broad-based across components, with consumers’ assessments of the present situation and their expectations for the future both contributing to the deterioration. Consumers were less positive about current business conditions than May. Their appraisal of current job availability weakened for the sixth consecutive month but remained in positive territory, in line with the still-solid labor market. The three components of the Expectations Index—business conditions, employment prospects, and future income—all weakened. Consumers were more pessimistic about business conditions and job availability over the next six months, and optimism about future income prospects eroded slightly.”
https://www.conference-board.org/topics/consumer-confidence
