NEW YORK — If you’re a U.S. consumer, why would you be confident?
Following a string of bad news that threatens the painfully slow economic recovery, consumer confidence fell to a seven-month low in June on continuing worries about high unemployment and stagnating wages, according to a report released Tuesday by a private research group.
The Conference Board’s Consumer Confidence Index slipped to 58.5 in June. That’s down from a revised 61.7 in May, which was an almost six-point drop.
“Americans still feel like they’re in a recession,” said C. Britt Beemer, chairman of America’s Research Group. “They feel like they’re driving in a car and getting hit by all sides.”