Consumer Confidence Reaches Highest Level Since Jan. 2008
The Conference Board Consumer Confidence Index, which had increased in May, improved again in June. The Index now stands at 85.2 (1985=100), up from 82.2 in May. The Present Situation Index increased to 85.1 from 80.3, while the Expectations Index rose to 85.2 from 83.5 in May.
Consumers’ appraisal of current conditions improved in June. Those claiming business conditions are “good” increased to 23.0% from 21.1%, while those stating business conditions are “bad” decreased to 22.8% from 24.6%. Consumers’ assessment of the job market was also more favorable. Those stating jobs are “plentiful” edged up to 14.7% from 14.2%, while those claiming jobs are “hard to get” declined to 31.8% from 32.2%.