Economy
June 27, 2017
Consumer Confidence Up in June 2017
Written by Peter Wright
The source of this data is the Conference Board with analysis by Steel Market Update. Please see the end of this piece for an explanation of the indicator and for the official news release.
The composite value of consumer confidence was 118.9 in June, an increase of 1.3 points from the May value. The last five months have each been better than at any time since 2001. The three month moving average (3MMA) decreased by 2.0 points, but is 23.8 points higher than in June last year. Consumers are feeling better about the present economic environment, but in June their expectations declined slightly. The low point for consumer confidence last year was May with a value of 92.4. Consumer confidence is the driver of consumer spending, which is the largest component of GDP and which ultimately drives a large portion of steel consumption.
