Survey participants who expect business conditions to worsen increased to 16.7 percent from 13.9 percent. Those anticipating business conditions to improve declined to 12.4 percent from 14 percent.

The outlook on the labor front six months from now wasn't much better, as perceptions took on a more pessimistic tone than last month. The consumers expecting more jobs in the months fell to 10.8 percent from 13.3 percent, according to The Conference Board. Those anticipating fewer jobs rose to 23.1 percent from 20.2 percent. In addition, the proportion of consumers who expect their incomes to fall increased to 11 percent from 9.1 percent.