US consumer confidence on the upswing

AFP  US consumer confidence improved markedly in June, reaching its highest level since the start of the pandemic in March 2020, reflecting the recovery of the economy, according to the Conference Board index released Tuesday.

The index stood at 127.3 points, compared to 120 in May (revised up), above analysts’ expectations of 120 points.

The component that measures consumer perception of current conditions gained 9 points to 157.7, while the component that measures expectations in the next six months rose to 107 points (+6 points), according to a statement.

“Consumers’ assessment of current conditions improved again, suggesting that economic growth further strengthened in the second quarter,” said Lynn Franco, senior director of economic indicators at the Conference Board.

Despite rising prices in recent months, households seem unconcerned about the risks of runaway inflation.