Consumer Confidence Leaps to 17-Month High on Waning Inflation and Fewer Recession Worries
Consumer confidence index rises to 109.7 in June from 102.5. The numbers: Asurvey of consumer confidence jumped to a 17-month high of 109.7 in June, reflecting a slowdown in inflation and fewer worries about a recession.The closely followed index increased 7.2 points from a revised 102.5 in May, the Conference Board said Tuesday. The May reading was the lowest in six months.Consumer confidence tends to signal whether the economy is getting better or worse. The index is still well below the levels associated with a healthy economy, however.Economists polled by The Wall Street Journal had forecast the index to register 104.Key details: A measure that looks at how consumers feel about the economy right now rose to 155.3 in June from 148.9. That's the highest level in almost two years.A confidence gauge that looks ahead six months moved up to 79.3 in June from 71.5, the highest reading this year.
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