US consumer confidence climbs to highest since January 2022

30% expect family’s financial situation to be ‘better’ in 6 months, says Conference Board economist

By Ovunc Kutlu

ISTANBUL (AA) - US consumer confidence rose in June, climbing to its highest since January 2022, according to New York-based research group, the Conference Board in a statement Tuesday.

The consumer confidence index, a leading indicator of consumer spending and economic activity, jumped 7.2 points to 109.7, it said.

The index was expected to come in at 104.0, while the figure stood at 102.5 in May.

Dana Peterson, chief economist at The Conference Board, said the figure reflects "improved current conditions and a pop in expectations."

“Around 30 percent (of those surveyed) expect their family’s financial situation to be ‘better’ in the next six months, compared to less than 14 percent expecting it to be ‘worse.’ This might reflect consumers’ belief that labor market conditions will remain favorable and that there will be further declines in inflation ahead," she added.

Kaynak:

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