Consumer confidence edges up in June after sharp downward revision to May reading
Consumer confidence in the U.S. saw a slight uptick in June, rising 0.6 points to 91.2 on The Conference Board's index. However, this followed a significant downward revision to May's reading, which was adjusted from 93.1 down to 90.6. A senior economist at The Conference Board noted the June improvement can be viewed optimistically or pessimistically, but overall consumer confidence remains low.
Key quotes
Yelena Shulyatyeva, a senior U.S. economist for The Conference Board, said Tuesday that the June improvement can be taken as a 'glass half full or glass half half empty.'
But either way, she said consumer confidence remains low.
From the article
Consumer confidence inched up in June, but only after a big downward revision to The Conference Board's gauge of how Americans felt about the economy and their personal finances in May.
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