December 6, 2022

Forex Solution

Learn To Trade Forex

US June consumer confidence 127.3 vs 119.1 expected

1 min read

US June 2021 consumer confidence data:

US June 2021 consumer confidence data:
  • Prior was 117.2
  • Expectations 107.0 vs 110.9 prior
  • Present situation 157.7 vs 148.7 prior
  • Jobs hard to get 10.9 vs 11.6 prior
  • 1 year inflation expectations 6.7% vs 6.5% prior
  • Jobs plentiful measure at highest since 2000
  • Full report

This is an impressive reading on a solid, forward-looking indicator. It argues that the consumer spending boom has a long runway.

“Consumer confidence increased in June and is currently at its highest
level since the onset of the pandemic’s first surge in March 2020,” said
Lynn Franco, Senior Director of Economic Indicators at The Conference Board.
“Consumers’ assessment of current conditions improved again, suggesting
economic growth has strengthened further in Q2. Consumers’ short-term
optimism rebounded, buoyed by expectations that business conditions and
their own financial prospects will continue improving in the months
ahead. While short-term inflation expectations increased, this had
little impact on consumers’ confidence or purchasing intentions. In
fact, the proportion of consumers planning to purchase homes,
automobiles, and major appliances all rose-a sign that consumer spending
will continue to support economic growth in the short-term. Vacation
intentions also rose, reflecting a continued increase in spending on
services.”

 
Invest in yourself. See our forex education hub.




Source link

Copyright © All rights reserved. | Newsphere by AF themes.