SurveysJun 03, 2025
Consumer Confidence Improves in May SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June
The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.
The Conference Board Consumer Confidence fell 5.4 points month-over-month in June to 93. Consumers remain concerned about tariffs and inflation.
New York—After rebounding from a five-month slide in May, consumer confidence wavered again in June, with consumers feeling equally unsure about the present situation and the near-term future.
The Conference Board said Tuesday that its Consumer Confidence Index stood at 93 in June, down 5.4 points from an upwardly revised 98.4 in May. The baseline for the index is 100.
The Conference Board said the decline in consumer confidence was consistent across all age groups, almost all income groups, and all political affiliations, with the largest decline in confidence recorded among Republicans.
The Present Situation Index, which measures consumers’ assessment of current business and labor market conditions, was down 6.4 points to 129.1.
The Expectations Index, which is based on consumers’ outlook for income, business, and labor market conditions in the next six months, slipped 4.6 points to 69.
The Conference Board noted that the index is now “substantially below” the threshold of 80 that typically signals a recession ahead.
As the write-in responses to June’s survey indicate, tariffs remain a top concern for consumers, as does inflation.
Concerns about geopolitical and social unrest also are starting to worry some people.
The Conference Board’s Senior Economist Stephanie Guichard said, “Consumers’ write-in responses revealed little change since May in the top issues impacting their views of the economy. Tariffs remained on top of consumers’ minds and were frequently associated with concerns about their negative impacts on the economy and prices.
“Inflation and high prices were another important concern cited by consumers in June.”
However, Guichard noted that in June, more consumers mentioned easing inflation, which is a trend The Conference Board has been seeing over the last several months.
She added that references to geopolitics and social unrest were up slightly from previous months but still remain relatively low on consumers’ overall list of concerns.
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The Conference Board said Tuesday that its Consumer Confidence Index stood at 93 in June, down 5.4 points from an upwardly revised 98.4 in May. The baseline for the index is 100.
The Conference Board said the decline in consumer confidence was consistent across all age groups, almost all income groups, and all political affiliations, with the largest decline in confidence recorded among Republicans.
The Present Situation Index, which measures consumers’ assessment of current business and labor market conditions, was down 6.4 points to 129.1.
The Expectations Index, which is based on consumers’ outlook for income, business, and labor market conditions in the next six months, slipped 4.6 points to 69.
The Conference Board noted that the index is now “substantially below” the threshold of 80 that typically signals a recession ahead.
As the write-in responses to June’s survey indicate, tariffs remain a top concern for consumers, as does inflation.
Concerns about geopolitical and social unrest also are starting to worry some people.
The Conference Board’s Senior Economist Stephanie Guichard said, “Consumers’ write-in responses revealed little change since May in the top issues impacting their views of the economy. Tariffs remained on top of consumers’ minds and were frequently associated with concerns about their negative impacts on the economy and prices.
“Inflation and high prices were another important concern cited by consumers in June.”
However, Guichard noted that in June, more consumers mentioned easing inflation, which is a trend The Conference Board has been seeing over the last several months.
She added that references to geopolitics and social unrest were up slightly from previous months but still remain relatively low on consumers’ overall list of concerns.
The Conference Board said consumers’ outlook on stock prices continued to improve in May after hitting a 16-month low in April in the wake of President Donald Trump’s initial tariff announcement.
About 46 percent of consumers surveyed said they expect stock prices to increase over the next 12 months, up from about 38 percent two months ago.
As for interest rates, 57 percent of consumers survey said they expected rates to rise, the highest share since October 2023.
The Conference Board also takes stock of consumers’ spending plans for big-ticket items, services (dining out, entertainment, etc.), and travel.
Overall, when compared with May, more consumers were undecided about plans to buy big-ticket items.
Purchasing plans for cars hit their highest level since December 2024, while purchasing plans for most appliances rose slightly.
However, fewer consumers said they were planning to buy electronics as well as the biggest big-ticket item of them all—a home.
Dining out remained No. 1 in the services categories, and was one of the few categories to see spending intentions rise in June, along with motor vehicle services, museum/historic sites, and fitness.
The Conference Board said consumers’ vacation plans remained unchanged overall in June; more consumers said they plan to travel abroad while intentions to travel within the United States declined.
The Conference Board’s monthly Consumer Confidence Survey is conducted for the board by Toluna, a technology and market research firm with a panel of more than 36 million consumers.
June 18 was the cutoff date for preliminary results.
The Conference Board releases its report on consumer confidence on the last Tuesday of every month. The next release is set for July 29.
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