US Consumer Confidence Index Sees June Upswing
(MENAFN) US consumer optimism strengthened notably in June, as the University of Michigan's index increased to 60.5, well above the anticipated 53.5.
Previously at 52.2 in May, the benchmark jumped 8.3 points, indicating enhanced morale among US shoppers.
The current economic conditions index, which assesses individual financial situations and the general economy, climbed to 63.7, marking a 4.8-point rise from the prior month.
Meanwhile, the consumer expectations index, which reflects views on the longer-term economic future, leapt 10.5 points to 58.4.
Short-term inflation expectations decreased from 6.6 percent to 5.1 percent, and long-term forecasts dipped slightly from 4.2 percent to 4.1 percent, with both reaching their lowest readings in three months.
Although anxiety over the inflationary consequences of trade tariffs has lessened, outlooks remain heightened when compared to figures from late 2024, indicating ongoing wariness regarding prospective US trade strategy.
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