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© Reuters. FILE PHOTO: People shop in a supermarket as inflation affected consumer prices in Manhattan, New York City, U.S., June 10, 2022. REUTERS/Andrew Kelly/File Photo
WASHINGTON (Reuters) - U.S. consumer confidence fell sharply in June as worries about high inflation left consumers anticipating economic growth would weaken significantly in the second half of the year.
The Conference Board said on Tuesday its consumer confidence index dropped 4.5 points to a reading of 98.7 this month.
The present situation index, based on consumers' assessment of current business and labor market conditions, slipped to 147.1 from 147.4 last month. The expectations index, based on consumers' short-term outlook for income, business, and labor market conditions, tumbled to 66.4 - the lowest level since March 2013 - from 73.7 in May. "Expectations have now fallen well below a reading of 80, suggesting weaker growth in the second half of 2022 as well as growing risk of recession by year end," said Lynn Franco, senior director of economic indicators at The Conference Board in Washington.
(Reuters) -U.S. worker productivity in the second quarter fell at its steepest pace on an annual basis since 1948 when the Labor Department began tracking it, while growth in unit...
BERLIN (Reuters) - Germany's finance ministry wants to raise income tax thresholds and slightly increase child benefits in response to the highest inflation in the country in...
MEXICO CITY (Reuters) -Mexican annual inflation reached its highest level in nearly 22 years in July, official data showed on Tuesday, rising faster than expected and fueling...
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