Consumer confidence highest in over five years in June

NEW YORK Tue Jun 25, 2013 10:10am EDT

A woman shops with her daughter at a Walmart Supercenter in Rogers, Arkansas June 6, 2013. REUTERS/Rick Wilking

A woman shops with her daughter at a Walmart Supercenter in Rogers, Arkansas June 6, 2013.

Credit: Reuters/Rick Wilking

NEW YORK (Reuters) - Consumer confidence jumped in June to its highest level in over five years as Americans were more optimistic about business and labor market conditions, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes rose to 81.4 from a downwardly revised 74.3 the month before. It was the highest since January 2008 and beat expectations for 75.4.

May was originally reported as 76.2.

(Reporting by Leah Schnurr; Editing by Chizu Nomiyama)

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Comments (6)
dareconomics wrote:
There was a bumper crop of positive economic news today led by the rise in durable goods orders. Is this good news or bad? While rising factory activity shows a strengthening economy, this dynamic could portend the Fed reducing its bond purchases despite all the protestations to the contrary in the media yesterday.

The consumer confidence numbers are even trickier to analyze. Today’s rise in the Conference Board suggests improving sentiment, but the University of Michigan numbers released last week show the opposite. Let’s call this data “mixed” for now and move on.

Full post with charts, images and links:

http://dareconomics.wordpress.com/2013/06/25/around-the-glove-06-25-2013/

Jun 25, 2013 12:37pm EDT  --  Report as abuse
dareconomics wrote:
There was a bumper crop of positive economic news today led by the rise in durable goods orders. Is this good news or bad? While rising factory activity shows a strengthening economy, this dynamic could portend the Fed reducing its bond purchases despite all the protestations to the contrary in the media yesterday.

The consumer confidence numbers are even trickier to analyze. Today’s rise in the Conference Board suggests improving sentiment, but the University of Michigan numbers released last week show the opposite. Let’s call this data “mixed” for now and move on.

Full post with charts, images and links:

http://dareconomics.wordpress.com/2013/06/25/around-the-glove-06-25-2013/

Jun 25, 2013 12:37pm EDT  --  Report as abuse
dareconomics wrote:
There was a bumper crop of positive economic news today led by the rise in durable goods orders. Is this good news or bad? While rising factory activity shows a strengthening economy, this dynamic could portend the Fed reducing its bond purchases despite all the protestations to the contrary in the media yesterday.

The consumer confidence numbers are even trickier to analyze. Today’s rise in the Conference Board suggests improving sentiment, but the University of Michigan numbers released last week show the opposite. Let’s call this data “mixed” for now and move on.

Full post with charts, images and links:

http://dareconomics.wordpress.com/2013/06/25/around-the-glove-06-25-2013/

Jun 25, 2013 12:37pm EDT  --  Report as abuse
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