The Conference Board's Consumer Confidence Index dropped to just 50.4 (1985 = 100) in June, less than half of what it was in June of 2007. The Expectations Index portion of the survey slipped all the way to 41.0.
Said Lynn Franco, Director of the Board's Consumer Research Center: "This month's Consumer Confidence Index is the fifth lowest reading ever. Consumers' assessment of present-day conditions continues to grow more negative and suggests the economy remains stuck in low gear. Looking ahead, consumers' economic outlook is so bleak that the Expectations Index has reached a new all-time low. Perhaps the silver lining to this otherwise dismal report is that Consumer Confidence may be nearing a bottom."
Just 8.8% think business conditions will improve over the next six months, while 33.9% think they will grow worse. Just 12.3% expect their incomes to increase over that span.