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Consumer confidence deteriorated in June after recovering in May, as the Conference Board’s Expectations Index is still signaling a potential recession on the horizon.

The Consumer Confidence Index decreased by 5.4 points in June to 93 from 98.4 in May, and the Expectations Index, based on consumers’ short-term outlook for income, business, and labor market conditions, fell 4.6 points to 69.

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The Expectations Index remained below the threshold of 80, which typically signals a recession ahead, the Conference Board revealed in a statement.

“Consumer confidence weakened in June, erasing almost half of May’s sharp gains,” Stephanie Guichard, senior economist, Global Indicators at The Conference Board, said. “The decline was broad-based across components, with consumers’ assessments of the present situation and their expectations for the future both contributing to the deterioration.

“Consumers were less positive about current business conditions than May. Their appraisal of current job availability weakened for the sixth consecutive month but remained in positive territory, in line with the still-solid labor market,” Guichard said.

Consumers pessimistic about business conditions

Three components of the Expectations Index — business conditions, employment prospects, and future income — all weakened. Consumers were more pessimistic about business conditions and job availability over the next six months, and optimism about future income prospects eroded slightly, according to Guichard.

The Consumer Confidence Index measures consumer confidence in business conditions, the economy, and the labor market, through a monthly survey conducted by tech firm Toluna for the Conference Board, a non-partisan, not-for-profit think tank.

Consumer confidence had rebounded in May after declining for five straight months, rising 12.7 points to 98.4, and the Expectations Index, based on consumers’ short-term outlook for income, business, and labor market conditions, rose 18.2 points to 73.6.

Las Vegas Strip casinos’ gaming revenues continue to decline.

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Las Vegas Strip casino gaming revenue declines

Increased consumer confidence in May did not benefit Las Vegas Strip casino gambling win numbers, as total gaming win revenue fell for the fourth straight month, declining by 3.87% to $713.7 million from $742 million in May 2024, according to the Nevada Gaming Control Board’s May 2025 Win Revenue Summary.

The Strip’s fiscal year gaming win revenue from July 2024 through May 2025 also declined by 3.36% to $8 billion compared to $8.29 billion in the same period in 2024.

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Downtown Las Vegas gaming win revenue reversed course in May with a significant decline of 11.36% to $66.3 million compared to $74.8 million in the same period in 2024. Reno’s gaming win revenue declined 2.79% to $63.4 million compared to $65.2 million in the same month in 2024.

South Lake Tahoe’s gaming win revenue plummeted by 23.4% in May to $13.5 million compared to $17.6 million in the same period in 2024.

Nevada’s statewide gaming win revenue for May declined by 2.18% to $1.29 billion compared to $1.32 billion in the same period in 2024. The state’s gaming win revenue also declined by 1.18% in May to $14.3 billion compared to $14.47 billion in the fiscal year from July 2024 to May 2025.

The Nevada Gaming Control Board did not state any reasons for the results.