NEW YORK — Consumer confidence inched higher in June as falling oil prices offered some relief from inflation worries, according to The Conference Board’s monthly survey. The Consumer Confidence Index® rose to 91.2 (1985=100), up 0.6 points from a downwardly revised 90.6 in May.
The Present Situation Index, which reflects consumers’ views of current business and labor conditions, fell 3.0 points to 116.4. In contrast, the Expectations Index — based on short-term outlooks for income, business, and jobs — increased 3.0 points to 74.4. The survey was conducted June 1–23.
“Consumer confidence inched up in June as falling oil prices in recent weeks provided some relief to consumer inflation fears,” said Dana M. Peterson, Chief Economist at The Conference Board. “Consumer appraisals of current business conditions were slightly more positive compared to last month. However, perceptions of the current labor market softened measurably as the percentage of consumers saying jobs were ‘hard to get’ rose to 22.5%, the highest level since January 2021.”
Net views of current business conditions improved modestly to +3.5%. However, the labor market differential narrowed as more respondents reported difficulty finding work. Expectations for future business conditions and household incomes brightened, helping offset stable but cautious views on jobs six months out.
By demographics, confidence among those under 35 remained highest, though six-month moving averages showed downward trends across age groups. Income categories were largely stable or mixed. Consumers’ write-in responses remained pessimistic overall, with prices and energy still prominent concerns, though mentions of geopolitical issues eased somewhat.
Inflation expectations moderated slightly, but most consumers (61.5%) still anticipate higher interest rates over the next year. Big-ticket purchase plans showed modest improvement, particularly for autos, while homebuying expectations rose on a rolling basis. Service spending intentions were mixed, with restaurants, streaming services, and personal care ranking high. Travel plans shifted slightly toward international destinations.
The report comes as Maryland and the nation navigate summer travel, energy costs, and broader economic uncertainty. While the index remains below 100 — a threshold often associated with stronger growth — the modest uptick suggests cautious optimism amid easing fuel prices. Full methodology and historical data are available from The Conference Board.