[naviga:h3]U.S. consumer confidence index rises to 98.1 in June[/naviga:h3]

WASHINGTON — U.S. consumer confidence rose in June, reflecting the partial re-opening of the country but the concern is that rising coronavirus cases in many states could jeopardize future gains.

The Conference Board, a New York-based research organization, said that its Consumer Confidence Index rose to 98.1 in June after virtually no change at 85.9 in May.

Even with the June rebound, the confidence index remains well below its pre-pandemic levels. The reading on consumer confidence is closely watched for clues it can give about future consumer spending, which accounts for 70 percent of economic activity.

The present situations index, based on consumers’ short-term outlook for income, business and labor market conditions, increased in June as did the expectations index, but both remain at depressed levels.

“The re-opening of the economy and relative improvement in unemployment claims helped improve consumers’ assessment of current conditions,” said Lynn Franco, senior director of economic indicators at the Conference Board.

But looking ahead, Franco said, “Faced with an uncertain and uneven path to recovery, and a potential COVID-19 resurgence, it’s too soon to say that consumers have turned the corner and are ready to begin spending at pre-pandemic levels.”

[naviga:h3]Ford Motor joins Facebook, Twitter advertising boycott[/naviga:h3]

DETROIT — Ford Motor Co. is joining Starbucks and Coca-Cola in an advertising boycott against Facebook sites as part of an effort to urge the social media giant to regulate misinformation and hate speech critics say divides a troubled nation.

The Dearborn, Mich.-based automaker is now on a growing list of global companies that plan to “pause” advertising on Facebook and also on YouTube, Instagram and Twitter in the U.S. for the next 30 days, Ford spokesman Said Deep confirmed Monday.

A StopHateforProfit campaign led by a coalition of civil rights groups including the NAACP and the Anti-Defamation League comes in response to “repeated failure to meaningfully address the vast proliferation of hate on its platforms.”

Other companies participating in the boycott include: Eddie Bauer, Hershey’s, Eileen Fisher, Honda America, JanSport, Patagonia, Levi Strauss, REI, The North Face, Unilever and Verizon. Starbucks alone spent $95 million in 2019, according to The New York Times.