The Thomson Reuters/University of Michigan preliminary consumer sentiment index declined to 94.3 in June from a final reading of 94.7 in May. Analysts had expected the index to fall to 94.0.
“Consumers were a bit less optimistic in early June due to increased concerns about future economic prospects,” the Surveys of Consumers chief economist at the University of Michigan Richard Curtin said.
“The strength recorded in early June was in personal finances, and the weaknesses were in expectations for continued growth in the national economy,” he added.
The index of current economic conditions climbed to 111.7 in June from 109.9 in May, while the index of consumer expectations decreased to 83.2 from 84.9.
The one-year inflation expectations remained unchanged at 2.4% in June.
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