US consumer confidence at five-year high in June

US consumer confidence at five-year high in June

Summary:

  • Americans’ confidence in the economy rose to its highest level in more than five years, bolstered by a more optimistic outlook for hiring.
  • Consumer confidence index jumped to 81.4 in June. That’s the best reading since January 2008.
  • Consumers’ confidence in the economy is watched closely because their spending accounts for about 70 percent of U.S. economic activity.
  • Consumers are more positive about current economic conditions and have a more optimistic view of the economy and job market in the next six months.
  • Rising home prices are also likely making Americans feel wealthier and more confident about spending. Home prices jumped 12.1 percent in April compared with a year ago.
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Categories: Capital Markets

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