• Consumer confidence rose 7.1 points in June, with solid gains in both the present situation and expectations series. The survey was completed too early to catch the recent stock market selloff.

Consumer Confidence Moves to a New Cycle High



Consumer confidence rose 7.1 points to 81.4 in June, following a 5.3 point rise the prior month. The Conference Board noted that the survey was completed on June 13, which means the survey missed much of the stock market selloff that followed the most recent FOMC meeting. Ironically, the recent improvement in consumer confidence suggests that the economic recovery is finally reaching Main Street. Consumers are more optimistic about both current and future economic conditions, and plans to purchase homes and automobiles both increased.