Consumer confidence improved in June for a second month amid better employment conditions and relatively stable stock markets, the government said Friday. The seasonally adjusted index of sentiment among households made up of two or more people rose 0.9 points to 41.8, the Cabinet Office said. The survey was conducted on June 15 before the financial markets became volatile over the British vote to leave the European Union later in the month. The government kept intact its basic assessment of the index, saying consumer confidence is "leveling off." The survey polls consumers on the economic outlook for the next six months.
U.S. consumer confidence slipped in April but remains at high levels. The Conference Board, a business research group, says its consumer confidence index registered 120.3 this month, down from 124.9 in March, which was the highest reading in 16 years. Americans' assessment of current conditions and their expectations for the future both dipped this month. Their outlook for the jobs market also dimmed. Still, consumers' spirits have risen sharply since the Nov. 8 election of President Donald Trump.
On January 29, Starbucks reacted to President Trump's travel ban by issuing a statement that it would hire 10,000 refugees. This announcement has backfired with consumers in a big way. During that those few days, Starbucks saw its Consumer Happiness level go from its normally impressive 75% positive all the way down to 40% positive. That's right--six out of every 10 opinionated tweets about the company were negative: Throughout 2016, Consumer Happiness for Starbucks ranged 70-75%. This is the 7-day average, so that 66% does NOT include anything from the huge backlash immediately following the announcement.