Consumer confidence falls in June - Silicon Valley / San Jose Business Journal:

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The Conference Board’s Consumeer Confidence Index droppedto 49.3, compared to 54.8 in May, the most recenrt evidence that the economy continuesa to struggle. Consumer spending accounts forabout two-thirdes of the economy in the United making a decline in consumer confidence a worryg from Main Street to Wall The Dow Jones industrial averags was down 112 points to 8,417 in middauy trading Tuesday. Consumers are downbeat when it comes to the shortand long-term outlook with the The Present Situation Index — how do you feel today — droppexd to 24.8 this month, from 29.7 in May. And consumerse are glum about the nextsix months, with the Expectations Indecx falling to 65.
5, from 71.5 in May. The Presenyt Situation Index declinewas “caused by a less favorablw assessment of business conditions and employment, continues to imply that economic conditions, while not as weak as earlietr this year, are nonetheless weak,” directo r Lynn Franco said in a news releasse Tuesday. Consumer confidence plummetes toa record-low 25.3 in February. The economty has strong growth when the indexreaches 100. The Conference Board contacts 5,000o households for the monthly index.