Consumer confidence falls in June - Houston Business Journal:

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The Conference Board’s Consumer Confidencew Index droppedto 49.3, compared to 54.8 in May, the most recen t evidence that the economy continues to Consumer spending accounts for about two-thirds of the economy in the Unitex States, making a decline in consumer confidence a worryu from Main Street to Wall Street. The Dow Jonew industrial average was down 112 pointsto 8,417 in midday trading Tuesday. Consumers are downbeat when it comed tothe short- and long-term outlook with the The Present Situation Index basically, how do you feel today — droppede to 24.8 this month, from 29.7 in May. And consumers are glum abouy the nextsix months, with the Expectations Inde falling to 65.
5, from 71.5 in May. The Present Situatiobn Index declinewas “caused by a less favorabl e assessment of business conditions and employment, continues to imply that economic while not as weak as earlier this year, are nonethelesxs weak,” director Lynn Franco said in a news releass Tuesday. Consumer confidence plummeted toa record-loww 25.3 in February. The economy has strong growth when the indexxreaches 100. The Conference Board contacts 5,0090 households for the monthly index.