WASHINGTON, June 30 (Xinhua) -- The U.S. Consumer Confidence Index ticked up by 0.6 points in June, according to data released Tuesday from the Conference Board, though Americans remain pessimistic about the economy.
"Consumer confidence inched up in June as falling oil prices in recent weeks provided some relief to consumer inflation fears," said Dana M Peterson, chief economist at the Conference Board.
"Consumer appraisals of current business conditions were slightly more positive compared to last month," Peterson added.
Consumers under 35 remained the most confident age group, though the report found that confidence trended downward across all age groups on a six-month moving average basis.
By income, on a six-month moving average basis, confidence was mixed or little changed across all categories, the report found.
By political affiliation, confidence among Independents and Democrats rose while Republicans were somewhat less positive on a month-over-month basis, the report showed.
Some economists, however, believe June's uptick in consumer confidence is insignificant.
"I wouldn't make much of the rise ... Most people still are not feeling good about the economy," Dean Baker, co-founder of the Center for Economic and Policy Research, told Xinhua.
"Lower gas prices are a plus, but people are still feeling pinched," Baker said, noting that "high inflation, a weaker jobs market and a huge amount of uncertainty are making people feel bad about the economy."
Consumers' write-in responses on factors affecting the economy continued to skew towards pessimism in June, the report found.
The report comes four months into the U.S. war with Iran.
References to prices and oil and gas eased in frequency but remain elevated. Mentions of war, geopolitics and conflict eased, reflecting some easing of consumer concerns about the inflationary impacts of the war in the Middle East, the report found.
Consumers' net views of their family's current financial situation deteriorated for a third month, with virtually the same portion saying conditions are "Good" versus "Bad."
The report noted, however, that consumers were more optimistic about their families' future financial prospects, with sentiment rebounding to levels last seen at the start of the year.
Meanwhile, the share of consumers who said a U.S. recession over the next 12 months is "somewhat likely" rose, but overall recession expectations remain low, with those saying a recession is "not likely" declining.
Some experts believe Americans' economic pessimism could harm the GOP in November's midterms.
"American consumers are pessimistic about the U.S. economy. They worry about the cost of living and possible job losses due to artificial intelligence," Brookings Institution Senior Fellow Darrell West told Xinhua.
"If those fears persist, it will harm GOP prospects in November. (U.S. President Donald) Trump promised an economic improvement, but many people are not feeling very prosperous right now," West said. ■