Consumer sentiment improved in June, but remains below pre-pandemic levels, according to The Conference Board Consumer Confidence Index released today.
Consumers still feel economic conditions are weak, said Lynn Franco, senior director of economic indicators at The Conference Board.
“Faced with an uncertain and uneven path to recovery, and a potential Covid-19 resurgence, it’s too soon to say that consumers have turned the corner and are ready to begin spending at pre-pandemic levels,” Franco said.
The index’s survey found that 42.6% of consumers expect business conditions to improve in the next six months — little changed from the same survey in May. However, only 15.3% of consumers expect business conditions to worsen over the next six months; that’s an improvement from May, when 20.5% of consumers surveyed said that was the case.
Fewer consumers anticipate more jobs in the months ahead, the report found.
Only 38.4% of consumers expected an increase in jobs when polled this month, down from 39.5% in the May survey. On the other hand, the percent of consumers expecting fewer jobs in the months ahead fell to 14.2% in the June survey from 19.9% in May.
Overall, The Conference Board’s Consumer Confidence Index was at 98.1 this month, up from 85.9 in May.