United States Consumer Confidence

United States

United States: Consumer confidence jumps up in June

June 30, 2015

The Conference Board consumer confidence index jumped up to 101.4 points in June from a revised 94.6 points in May (previously reported: 95.4 points). June’s result overshot market expectations of a rise to 97.4 points and comes as good news after only a modest gain was recorded in May

June’s significant increase in confidence was mainly driven by an improvement in consumers’ sentiment regarding business conditions over the next six months. Consumers’ expectations regarding current economic conditions and their outlook on the future of the job market also improved.

The director of the Board explained that, “over the past two months, consumers have grown more confident about the current state of business and employment conditions. In addition, they are now more optimistic about the near-term future. Overall, consumers are in considerably better spirits and their renewed optimism could lead to a greater willingness to spend in the near-term.”

FocusEconomics Consensus Forecast panelists expect private consumption to grow 3.0% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel sees private consumption increasing 2.7%.

Author:, Economist

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United States Consumer Confidence Chart

USA Consumer Confidence June 2015 0

Note: Consumer Confidence Index.
Source: The Conference Board.

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