US consumer confidence dipped slightly in June amid concerns about the economic outlook, but households remained optimistic about the labor market and their inflation expectations for next year improved slightly, according to a survey released on Tuesday.
The Conference Board reported that its consumer confidence index fell to 100.4 this month from a revised down 101.3 in May. Economists polled by Reuters had forecast the index to fall to 100.0 from 102.0 previously reported.
"Confidence dipped in June but remained in the same narrow range seen over the past two years, as current strength in the labor market continued to outweigh concerns about the future," said Dana Peterson, chief economist at the Conference Board. "However, if significant weakness in the labor market emerges, confidence could decline."
Consumers' 12-month inflation expectations fell to 5.3% from 5.4% in May.
