U.S. consumer sentiment slides in early June
The preliminary reading of the consumer sentiment for June decreased to 94.3 from 94.7 in May, said the Thomson Reuters/University of Michigan index of consumer sentiment.
"Consumers were a bit less optimistic in early June due to increased concerns about future economic prospects," said the survey director Richard Curtin.
"The strength recorded in early June was in personal finances, and the weaknesses were in expectations for continued growth in the national economy," said Curtin.
The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, increased to 111.7 from 109.9 last month.
The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, slid to 83.2 in early June from 84.9 in May. ■