(Washington) Consumer confidence in the United States rose more than expected in June, reaching its highest level in four months, as households were relieved by the slowdown in inflation and the resolution of the dispute over the ceiling of the debt.
The index measuring this confidence rose 7.9% from May, to 63.9 points, according to the preliminary estimate from the University of Michigan released on Friday.
That’s above analysts’ expectations, which saw the index at 60.2 points, according to Briefing.com’s consensus.
“The economic outlook has jumped 28% in the short term and 14% in the long term,” detailed Joanna Hsu, director of the survey, quoted in the press release.
“Sentiment is now 28% higher than the all-time low of a year ago and could resume its upward trajectory,” she added.
The economist nevertheless clarified that the level of confidence “remains low by historical standards, as income expectations have fallen”. “A majority of consumers still expect economic hardship over the next year,” she added.
