A four-month high in U.S. consumer confidence reflects Americans’ sunnier views on both their current situation and outlook, a positive sign for the economy, data from the New York-based Conference Board showed Tuesday.
Highlights of Consumer Confidence (July)
Confidence index rose to 121.1 (est. 116.5) from a revised 117.3 in June Present conditions measure rose to 147.8, a 16-year high, from 143.9 Gauge of consumer expectations for the next six months gained to 103.3 from 99.6
With unemployment near a 16-year low and U.S. stocks reaching record highs, consumers remain upbeat, which should continue to support the household spending that accounts for about 70 percent of U.S. gross domestic product. Even so, the post-election surge in sentiment has yet to translate into a similar economic boost. Faster wage gains and improved prospects for fiscal stimulus could propel confidence further in coming months. The Conference Board’s data contrast with