Consumers are turning more pessimistic about their income prospects, an indication that household spending will grow at a slower pace compared with a year earlier.
Consumer confidence in the U.S. rose in June to the highest level in more than six years as an improving job market bolsters households.
Confidence among U.S. consumers rose in May to the second-highest level since 2008 as Americans grew more upbeat about the economy and labor market.
Americans grew concerned in April that jobs have become more difficult to land, prompting an unexpected drop in confidence from a six-year high.
Orders for long-lasting goods such as appliances and metals unexpectedly rose in April after a gain the prior month that was stronger than previously estimated, indicating U.S. manufacturing is rebounding with the economy.
The Conference Board’s index of U.S. consumer confidence climbed to an almost three-year peak in January, higher than previously estimated, reflecting changes in sampling methodology.
"Stronger job growth helped boost consumers' assessment of current conditions, while brighter short-term outlooks for the economy and jobs, and to a lesser extent personal income, drove the gain in expectations."
- Lynn Franco on Jul 29, 2014
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