Consumer confidence in the U.S. is up in June, according to an index tracked by The Conference Board, a business research group. The index rose to 118.9, up from 117.6 in May. Americans’ assessment of current conditions was the highest it’s been since July 2001. “Expectations for the short-term have eased somewhat, but are still upbeat,” said Lynn Franco, director of economic indicators at The Confidence Board. “Overall, consumers anticipate the economy will continue expanding in the months ahead, but they do not foresee the pace of growth accelerating.”
In June, 30.8% of consumers said current business conditions are good, up from 29.8%. Those saying current conditions are bad decreased from 13.9% to 12.7%. Americans were also positive about the job market, with the percentage of consumers stating that jobs are plentiful rising from 30% in May to 32.8% in June. Consumers, though, were less optimistic about the short-term outlook. The percentage of consumers expecting business conditions to improve over the next six months decreased from 21.5% to 20.4% in June.
The monthly Consumer Confidence Index, based on a probability-design random sample, is conducted for The Conference Board by Nielsen.