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fell to 100.4 in June, down from 101.3 the month before, the group announced on Tuesday. That is another warning signal for President Joe Biden, who has been trying to shore up support for his handling of the economy.
“Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labor market views continued to outweigh concerns about the future,” said Dana Peterson, the group’s chief economist. “However, if material weaknesses in the labor market appear, confidence could weaken as the year progresses.”
In good news, though, year-ahead inflation expectations dipped slightly from 5.4% to 5.3%. Consumers were also positive about their outlook for the stock market.
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