U.S. consumer confidence leaps to 17-month high on waning inflation and fewer recession worries

consumer confidence

The numbers: A survey of U.S. consumer confidence jumped to a 17-month high of 109.7 in June, reflecting a slowdown in inflation and fewer worries about a recession.

The closely followed index increased 7.2 points from a revised 102.5 in May, the Conference Board said Tuesday. The May reading was the lowest in six months.

Consumer confidence at 17-month highConsumer confidence index rises to 109.7 in June from 102.5Source: Conference Board, Haver Analytics
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Consumer confidence tends to signal whether the economy is getting better or worse. The index is still well below the levels associated with a healthy economy, however.

Economists polled by The Wall Street Journal had forecast the index to register 104.

Key details: A measure that looks at how consumers feel about the economy right now rose to 155.3 in June from 148.9. That’s the highest level in almost two years.

A confidence gauge that looks ahead six months moved up to 79.3 in June from 71.5, the highest reading this year.

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Source: www.marketwatch.com
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