US consumer sentiment slidesJune 15th, 2012 - 10:10 pm ICT by IANS
New York, June 15 (IANS) US consumer sentiment dropped to a six-month low in June, on worries about the weakness in job market, according to a report Friday.
The Thomson Reuters/University of Michigan’s preliminary consumer sentiment index fell from 79.3 in May to 74.1 in June, the lowest level since last December, Xinhua reported.
Also, the index of consumer expectations declined to 68.9 in early June, the lowest since last December.
According to the report, consumer sentiment and future outlook on the economy were impeded by renewed concerns about jobs and debt crisis in Europe.
The University of Michigan’s Consumer Survey Center questions 500 households each month on their financial conditions and attitudes about the economy.
Consumer sentiment is directly related to the strength of consumer spending, which accounts for nearly two thirds of the US economy.
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