US Consumer Confidence Soars to 17-Month High Amid Economic Optimism
US consumer confidence rose to a 17-month high of 109.7 in June, due to a slowdown in inflation and fewer worries about a recession. The index is still below the levels associated with a healthy economy. Americans think inflation will continue to slow, and they see prices rising 6% in the next year, the lowest reading since the end of 2020. Despite being unhappy about the economy, consumers are still spending, and this has kept the economy out of recession.