U.S Consumer Confidence Drops to a 5-Month Low - 26.6.2012

U.S Consumer Confidence declined in June to 62.0 from a revised 64.4 in May, while economists were expecting a figure at 63, as the Conference Board reported today. U.S Consumers appear to lose confidence as the Labor Market is losing momentum and the European debt crisis is worsening, while lower energy prices do not offset the negative effects. The Consumer Confidence Index falls for a fourth consecutive month and reaches a 5-month low. Earlier today the S&P/Case-Schiller Index dropped by 1.9 per cent in April, while in March it dropped by 2.59 per cent. The latter is indicating that house prices fell at a slower pace adding to signs that the recovery in the U.S housing market continues.