#BED BATH AND BEYOND JOBS APEX DRIVERS#
Economists polled by Reuters had expected the index to climb to 104.0.Ĭonsumers under the age of 35, and those with an annual income of more than $35,000 were the main drivers of confidence this month. The Conference Board said its consumer confidence index rose to 109.7 this month, the highest reading since January 2022, from 102.5 in May. economy continues to steadily defy expectations and the fact that it is doing so without lots of hoopla is a good thing," said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto. central bank, which has raised its policy rate by 500 basis points since March 2022, signaled this month that two additional rate hikes were warranted this year. The upbeat data, however, suggested the Federal Reserve will likely have to continue raising interest rates to slow demand in the overall economy. Hopes that the economy could avoid a downturn in the near-term were also bolstered by other reports on Tuesday signaling a housing market revival was likely underway, with new home sales racing to a 15-month high in May and monthly house prices rising again in April. consumer confidence increased in June to the highest level in nearly 1-1/2 years amid renewed labor market optimism, while business spending appeared to hold up in May, indicating the economy remained on solid footing despite fears of a recession. Monthly house prices increase further in April.New home sales surge 12.2% gains across all four regions.Core capital goods orders rise 0.7% in May shipments up 0.2%.Consumer confidence index increases to 109.7 in June from 102.5.
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