WASHINGTON (AP) \u2014 Americans\u2019 view of the U.S. economy worsened in June, resuming a downward slide that had dragged consumer confidence to its lowest level since the COVID-19 pandemic five years ago.<\/p>\n
The Conference Board said Tuesday that its consumer confidence index slid to 93 in June, down 5.4 points from 98.4 last month, which represented a brief uptick. <\/p>\n
The regression surprised economists, who had expected a small uptick this month.<\/p>\n
In April, American consumers\u2019 confidence in the economy sank to its lowest reading since May 2020, largely due to anxiety over the impact of President Donald Trump\u2019s tariffs<\/a>. <\/p>\n A measure of Americans\u2019 short-term expectations for their income, business conditions and the job market fell 4.6 points to 69. That\u2019s well below 80, the marker that can signal a recession ahead. <\/p>\n Consumers\u2019 assessments of the present economic situation declined by 6.4 points to 129.1. <\/p>\n Tariffs and the impact they could have on personal finances remained at the top of respondents\u2019 minds, the Conference Board said.<\/p>\n Trump\u2019s aggressive and unpredictable policies<\/a> \u2014 including massive import taxes \u2014 have clouded the outlook for the economy and the job market, raising fears that the American economy is headed toward a recession.<\/p>\n Consumers\u2019 fears of a recession during the next 12 months rose slightly in June and remain elevated, according to the survey results.<\/p>\n The Conference Board said that the three components of the expectations Index \u2014 business conditions, job prospects, and future income \u2014 all weakened. <\/p>\n It was the sixth straight month that respondents\u2019 views of the job market deteriorated, though the reading remains in positive territory as the U.S. labor market continues to churn out jobs.<\/p>\n The Labor Department earlier this month reported that U.S. employers slowed hiring in May, but still added a solid 139,000 jobs<\/a> amid uncertainty over Trump\u2019s tariffs. Unemployment remains historically low at 4.2%.<\/p>\n Though concerns about inflation ticked down slightly in June, it remains a major concern among respondents, who frequently mentioned higher prices in tandem with tariffs.<\/p>\n