US Conference Board Consumer Confidence rose from 102.5 to 109.7 in June, well above expectation of 103.6. Present Situation Index rose from 148.9 to 155.3. Expectations Index jumped from 71.5 to 79.3, but remained below 80 which was associated with a recession within the next year.
“Consumer confidence improved in June to its highest level since January 2022, reflecting improved current conditions and a pop in expectations,” said Dana Peterson, Chief Economist at The Conference Board.
“Assessments of the present situation rose in June on sunnier views of both business and employment conditions.”
“Although the Expectations Index remained a hair below the threshold signaling recession ahead, a new measure found considerably fewer consumers now expect a recession in the next 12 months compared to May.”
