• Analytics
  • News and Tools
  • Market News
  • U.S. consumer confidence jumps more than expected in June
Market News
30.06.2020, 14:13

U.S. consumer confidence jumps more than expected in June

The Conference Board announced on Tuesday its U.S. consumer confidence surged 12.2 points to 98.1 in June from 85.9 in May.

Economists had expected consumer confidence to come in at 91.8.

May’s consumer confidence reading was revised down from originally estimated 86.6.

The survey showed that the expectations index increased from 97.6 last month to 106.0 this month. Meanwhile, the present situation index rose from 68.4 in May to 86.2.

“Consumer Confidence partially rebounded in June but remains well below pre-pandemic levels,” noted Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The re-opening of the economy and relative improvement in unemployment claims helped improve consumers’ assessment of current conditions, but the Present Situation Index suggests that economic conditions remain weak. Looking ahead, consumers are less pessimistic about the short-term outlook, but do not foresee a significant pickup in economic activity. Faced with an uncertain and uneven path to recovery, and a potential COVID-19 resurgence, it’s too soon to say that consumers have turned the corner and are ready to begin spending at pre-pandemic levels.”

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location