What: Customers are in an expectative position in the US

Why it is important: The global context is hitting all markets and affecting consumption everywhere

In June, the US Conference Board Consumer Confidence Index experienced a slight decline, dropping to 100.4 from a revised May reading of 101.3, mainly due to a decrease in the expectations component from 74.9 to 73.0. This decrease slightly reversed a nearly 6-point increase observed in May. Although confidence regarding current conditions remains robust, largely supported by a strong labor market, there is caution that any increase in unemployment or other signs of labor market weakening could diminish consumer confidence in the future.

Despite the dip, consumer confidence levels have stayed within a relatively consistent range observed over the past few years, suggesting that the decrease does not signify a notably negative trend. Consumers are displaying a cautious demeanor but are not overly alarmed, continuing to express concerns primarily about high prices, especially for food and groceries.

Other economic indicators such as recent stock market highs and falling gasoline prices, which normally would lift consumer confidence, seem to have had limited impact due to the prevailing cautious sentiment. Inflation expectations have slightly decreased from 5.4% to 5.3%, and there is a reduced anticipation of rising interest rates in the near future. Overall, consumer sentiment in June reflects a sustained unease, neither worsening significantly nor showing marked improvement.

In the US, consumer confidence in a sustained unease