The Conference Board Consumer Confidence Index rose to 98.0 in June, up 5.6 points from the previous month.
The Present Situation Index rose 5.1 points to 118.3, while the Expectations Index rose 6.0 points to 84.5.
“Consumers were less negative about current business and labor market conditions, but only moderately more positive, suggesting no deterioration in economic conditions, but no strengthening either,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Overall, consumers remain cautiously optimistic about economic growth in the short-term.”
The labor market outlook was more favorable in June, as the share of consumers expecting more jobs in the coming months increased 1.7 points to 14.2%, while those anticipating few jobs decreased 0.3 points to 17.9%. Income expectations improved as well, as 18.2% of consumers expected their incomes to increase within the coming months, up from 16.5% in May.
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