FXstreet.com (Barcelona) - Consumer Confidence decreased to 56.4 points in June, well below of 59.8 points of May's data and more than expected of 56.8 points decreases to June. Year to year, May has loose 28.9 point from 85.3 points of June 2007 data, according to latest data released by Reuters and University of Michigan.
Current index loose 5.7 points to 67.6 in June from 73.3 in May and expectations index fell to 49.2 point in June from 51.1 in May.
Richard Curtin, Reuters/University of Michigan Surveys of Consumers' Director said: 'The data indicate that growth in consumption spending will be under 1.0% in 2008, with the pace weakening until the Spring of 2009. The risks of a deeper and longer downturn, however, can no longer be easily dismissed'