Americans are feeling more confident about the economy
June 28, 2023
The Conference Board’s Consumer Confidence Index was 109.7 in June, up from 102.5 in May. “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. “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.”
US Economy News
CNN Business reports that a recent survey from business research shows that consumers have a more positive outlook on the current situation of the economy and what the future holds.
CNN states, “Both the present situations index and the expectations index rose from May; however, the latter remains at a level that flashes a recession warning signal, the Conference Board noted.”
This is primarily shared among consumers under the age of 35 and with incomes over $35,000 a year.
There is also a slight 4% decrease in consumers’ reports about experiencing the effects of a recession.
For US Economy News, this bodes as a good report overall and signals a willingness that consumers have to spend their money.
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