Consumer confidence dropped to 49.3 this month. It had been forecast to hit 55.0.
From Emily Kaiser, Reuters:
NEW YORK (Reuters) -- Consumer confidence fell unexpectedly in June after two straight months of gains as Americans' optimism over business and job conditions weakened.
The Conference Board, an industry group, said Tuesday its index of consumer attitudes dropped to 49.3 this month from a downwardly revised 54.8 in May. Markets were expecting a reading of 55.0 for June.
The Present Situation Index also slid to 24.8 from 29.7.
