U.S. consumer sentiment worsened more than expected in June on renewed concerns about the outlook for the economy, while worries about inflation eased modestly, a survey released Friday showed.
Consumers remained pessimistic about stagnant incomes and job prospects, and their view of their own finances was largely unchanged at negative levels, the Thomson Reuters/University of Michigan survey showed.
The preliminary reading on the overall index on consumer sentiment was 71.8, down from 74.3 the month before. It was below the the median forecast of 74.0 among economists polled by Reuters.
Even so, the data gave little evidence a new downturn is underway, with most consumers believing the last recession had not yet ended, the survey found.
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Consumers remained pessimistic about stagnant incomes and job prospects, and their view of their own finances was largely unchanged at negative levels, the Thomson Reuters/University of Michigan survey showed.
The preliminary reading on the overall index on consumer sentiment was 71.8, down from 74.3 the month before. It was below the the median forecast of 74.0 among economists polled by Reuters.
Even so, the data gave little evidence a new downturn is underway, with most consumers believing the last recession had not yet ended, the survey found.
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