U.S. consumer confidence did deteriorate in June, but at a less pronounced pace than initially anticipated, show the final results of the University of Michigan's monthly survey published on Friday.

Its confidence index finally came out at 68.2, higher than its initial estimate of 65.6, but still down on the 69.1 level reached in May.

The component measuring households' assessment of their current situation fell to 65.9 from 69.6 last month, but the component measuring their expectations improved to 69.6 from 68.8 the previous month.

At the same time, inflation expectations returned to 3% from 3.3% in May, but Joanne Hsu, the report's author, points out that the UMich confidence index is currently 36% lower than in June 2022.

Copyright (c) 2024 CercleFinance.com. All rights reserved.