WASHINGTON (6/29/15)--After falling by 5.2 points in May, the University of Michigan’s measure of consumer confidence jumped by 5.4 points in June, pushing the overall index to its highest level since January (Economy.com June 26).
The current conditions subindex climbed more than eight points to a five-month high during the month to 108.9, the highest mark since January 2007, save for January of this year.
Further, 44% of those surveyed said they were better off financially than they were a year ago, a 3% increase from May, while only 25% said they were not doing as well, a 5% drop month-over-month.
“June’s reading is another sign that points to a stronger second half of the year,” said Nate Kelley, Moody’s analyst (Economy.com). “The job market has been performing well on a consistent basis and inflation has been tame. The confluence of these two factors is a likely reason why sentiment is improving after a weak start to 2015.”
Additional numbers from the report: