That's how many months it’s been since consumers felt this optimistic and ready to spend, as measured by The Conference Board’s Consumer Confidence Index released Tuesday.
The monthly survey of consumers’ attitudes on current business conditions, the labor market, their own financial prospects, and other measures of consumer confidence showed Americans were feeling good about the economy and their own fortunes—and planning to buy houses, cars, and appliances, and to go on vacation.
Overall consumer confidence was still slightly below its level of February 2020, immediately before the pandemic hit, but it was higher than in June of 2019. The report was sunnier than economists had expected, and boded well for future growth.
“Confidence is not a perfect indicator of plans to spend,” wrote Jennifer Lee, senior economist at BMO Capital Markets, in a commentary. “But it is certainly a good thing to have highly confident consumers.”
Have a question, comment, or story to share? You can reach Diccon at email@example.com