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Consumer confidence fell in June, posting its largest one-month drop since just after Sept. 11 as a weak labor market and eroding confidence in corporate America took a toll on the relatively upbeat mood of Americans, a report said on Tuesday.The Conference Boar
stanley mug d, a private research group, said its closely watched index of consumer confidence fell to 106.4 in June from an upwardly revised 110.3 in May,
stanley cup roughly in line with analysts expectations. But the index remained above the 7-1/2 year low of 84.9 hit last November. Weak labor market conditions, generally soft business conditions and waning public confidence in questionable business practices have helped erode consumer confidence, said Lynn Franco, director of the Conference Board s Consumer Research Center. Still, the latest readings point to continued consumer spending and moderate economic growth. In a separate development, a real estate trade group said home sales dipped 0.3 percent in May, but were still on track for a record year. The National Association of Realtors said sales were the fourth highest on record. The NAR began tracking the number in 1968. Last year, a record 5.3 million home sales took place. The association expe
stanley cup cts to beat that number this year.On the consumer front, the Conference Board s Present Situation Index, which measures Americans views of the economy right now, fell to 105.7 in June from 111.2 in May. The Expectations Index, a gauge of consumers six-month outlook, fell to 106.9 in Ju Xuuh Stores May Get Merry After All
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