Consumer confidence jumps to 17-month high as inflation slows. Americans more optimistic on economy
The numbers: A survey of U.S. consumer confidence jumped to a 17-month high of 109.7 in June, reflecting a slowdown in inflation and fewer worries about a recession.
The closely followed index increased 7.2 points from a revised 102.5 in May, the Conference Board said Tuesday. The May reading was the lowest in six months. The future-expectations index was still below the 80 mark that often signals a recession ahead, however, the board has said. The index has been below that level in every month except for one in the last 16 months.
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