US consumer sentiment falls in June on future concerns

- U.S. consumer sentiment slid in June due to rising concerns about future economic growth.

The final reading of the consumer sentiment for June fell to 93.5 from 94.7 in May, said the Thomson Reuters/University of Michigan index of consumer sentiment on Friday.

"While no recession is anticipated, consumers increasingly expect a slower pace of economic growth in the year ahead," said survey director Richard Curtin.

"The persistent strength in personal finances will keep the level of consumer spending at relatively high levels and continue to support an uninterrupted economic expansion," said Curtin.

The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, added to 110.8 from 109.9 last month.

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, decreased to 82.4 from 84.9 in May.

source : xinhua