The Consumer Confidence Index dropped 7.7 percent in June to a reading of 50.4. It is the fifth lowest reading in the history of the index. Consumers’ assessment of current business conditions was pessimistic, with the percentage of those seeing the situation as “bad” rising sharply. Lynn Franco, director of The Conference Board Consumer Research Center, noted, “The silver lining … is that consumer confidence may be nearing a bottom.”

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87.3
 
75
 
64.5
 
62.3
 
58.1
 
50.4
Jan.
 
Feb.
 
Mar.
 
Apr.
 
May
 
June

SOURCE: THE CONFERENCE BOARD