Consumer Confidence Surprises to the Upside!

The Conference Board just reported its Consumer Confidence Index for June, and the news was a pleasant surprise. May’s value of 85.9 became June’s 98.1 against an expectation of a move to around 91. Within the statistics, the Present Situation sub-index rose from 68.4 to 86.2 while a similar measure for Consumer Expectations leaped to 106 from 97.6.

Consumers perceptions of labor market conditions were also favorable with those saying that jobs are plentiful going from 16.5% to 20.8%. While all these values describe improvements, their levels are still well below where they were prior to the pandemic.