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- U.S. consumer confidence index jumps to 101.4 in June
U.S. consumer confidence index jumps to 101.4 in June
The Conference Board released its consumer confidence index for the U.S. on Tuesday. The index rose to 101.4 in June from 94.6 in May, exceeding expectations for a rise to 97.2. May's figure was revised down from 95.4.
The increase was driven by the better outlook for both current conditions and expectations for the next six months.
The present conditions index climbed to 111.6 in June from 107.1 in May.
The Conference Board's consumer expectations index for the next six months increased to 94.6 in June from 86.2 in May.
"Over the past two months, consumers have grown more confident about the current state of business and employment conditions. Overall, consumers are in considerably better spirits and their renewed optimism could lead to a greater willingness to spend in the near-term," the director of economic indicators at The Conference Board, Lynn Franco, said.
The percentage of consumers expecting more jobs in the coming months was up to 17.8% in June from 14.7% in May.
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