WASHINGTON (AP) — U.S. consumer confidence rose for a fifth month in June to the highest level since the pandemic began last year as households responded to increased vaccinations and the further re-opening of businesses.
The Conference Board reported Tuesday that its consumer confidence index increased to 127.3 in June, up from a May reading of 120.0.
The June increase reflected an improvement in consumers' assessment of current conditions.
Consumer sentiment is expected to keep rising in coming months which will provide more support for consumer spending, which accounts for 70% of economic activity.
Martin Crutsinger, The Associated Press