Survey Shows Consumers Are Still Confident

A high level of consumer optimism persists despite indications of slower economic growth, the Conference Board said Wednesday.

The board said its consumer confidence index was 117.5 in June, little changed from May. Consumer confidence has held at a relatively high level since late last year, although buying plans are declining, according to the Conference Board.

The monthly survey covered 5,000 households throughout the United States. The level of confidence during 1985 was set at 100.

It found a small decline, to 28.7%, in the number of consumers who believe that current business conditions are good, and a slight rise, to 17%, in those who believe that they are bad.

Consumer opinion continues to be positive on the issue of job availability, the survey showed.

“Job security and the sustained buying power of the weekly paycheck are contributing substantially to the consumer’s sense of well being,” said Fabian Linden, executive director of the Conference Board’s Consumer Research Center. “As long as the consumer remains in good spirits, there is faint likelihood that the economy will take a bad turn.”

With the big spring car sales over, households planning to buy an automobile in the next six months dropped to 6.5% in June from 8.5% in May. Around 3.2% of the respondents plan to purchase a home, down from 3.4% a month earlier.