US consumer confidence retreats in June

The Conference Board Consumer Confidence Index® deteriorated by 5.4 points in June, falling to 93.0 from 98.4 in May. The Present Situation Index — based on consumers' assessment of current business and labor market conditions — fell 6.4 points to 129.1. The Expectations Index — based on consumers' short-term outlook for income, business and labor market conditions — fell 4.6 points to 69.0, substantially below the threshold of 80 that typically signals a recession ahead.