Americans are feeling fairly bullish about the U.S. economy. A key measurement of consumer confidence just jumped to its highest level since January 2022.
The Conference Board's Consumer Confidence Index was 109.7 in June, rising from 102.5 the month before, according to a report released Tuesday.
"If packed-full restaurants and airports were not enough to convince you that consumers are feeling good at the moment, look at the present situation index, which notched its best monthly gain since December 2022," Wells Fargo economists wrote in a note issued Tuesday. "In level terms, only two months have been higher for the present situation index in the past three years: those being June and July 2021.
"Greater confidence was most evident among consumers under age 35, and consumers earning incomes over $35,000," Dana Peterson, chief economic at the Conference Board, said in a statement. "Nonetheless, the expectations gauge continued to signal consumers anticipating a recession at some point over the next 6 to 12 months."
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