Even with several indicators showing economic improvement, consumers are leery to spend the limited cash they do have and are less confident the economy is rebounding than they were a month ago.
The New York-based Conference Board announced Tuesday that its Consumer Confidence Index now stands at 49.3, down from the revised May level of 54.8.
The Consumer Confidence Index is measured with two criteria. The board's Expectations Index, shoppers' outlook for the next six months, declined to 65.5 from 71.5. The Present Situation Index of how shoppers feel now about the economy dropped to 24.8 from 29.7 in May.
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