U.S. consumer confidence dips in June

(CNN)– Consumer confidence in the U.S. took a slight hit this month.

Data released on Tuesday from the Conference Board showed consumer confidence dropped from a 101.3 index reading in May, to 100.4 in June. That was about what economists were expecting.

Another gauge, the University of Michigan’s Consumer Sentiment Index focuses on household finances and inflation impacts. It showed a preliminary June reading at a seven month low.

Despite the dips, confidence the labor market remains positive, outweighing concerns about current business conditions.