[Stay on top of transportation news: .]
Consumer Confidence Falls in June
Consumer confidence declined this month following the highest level in more than two years in May, the New York-based Conference Board said Tuesday.
The group’s index fell to a reading of 52.9 reading, from a revised 62.7 in May that was slightly lower than first reported.
The reading was below economists’ forecasts of a 62.5 reading, Bloomberg reported.
An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.
