Consumer confidence fell in June

By Staff -- Home Textiles Today, 6/28/2002 12:00:00 AM

New York — With Americans growing increasingly antsy about a weakening job market and short-term economic conditions, and further rattled by a barrage of reports about corporate malpractice, consumer confidence fell in June to its lowest level in the past four months, The Conference Board reported.

The benchmark indicator slumped by 3.9 percent, to a new reading of 106.4, snapping a four-month string of steady gains that began in February.

Buying plans were mixed in June, The Conference Board reported, with consumers planning to buy more major appliances, but backing off plans to buy big-ticket items like cars and homes. In an indication that plans to furnish homes are recently holding steady after sliding somewhat in recent months, consumer buying plans for carpets remained unchanged at 5.7 percent.