US consumer confidence fell to its lowest level in 16 months in June

The US Conference Board survey released by the Conference Board showed that the consumer confidence index in the United States fell 4.5 points to 98.7 points in June, the lowest level since February 2021.

The so-called labor market differential rose to 39.7 points in June from 39.5 points in May, and inflation expectations over the next twelve months rose to 8.0% in June from 7.5% in May. Other data from the US Commerce Department showed that the US goods trade deficit narrowed 2.2% to $104.3 billion in May, with exports rising 1.2% and imports declining 0.1%.