Consumers less optimistic in preliminary June survey

Consumers were a bit less optimistic in early June due to increased concerns about future economic prospects. The strength recorded in early June was in personal finances, and the weaknesses were in expectations for continued growth in the national economy.

On the negative side of the ledger, consumers do not think the economy is as strong as it was last year nor do they anticipate the economy will enjoy the same financial health in the year ahead as they anticipated a year ago.

Overall, the data still indicate that real consumer expenditures can be expected to rise by 2.5% in 2016 and 2.7% in 2017.

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