Consumer confidence in the US soared this month due to optimistic views on labour market and business conditions, as well as a more positive outlook on family finances.
The Consumer Confidence Index increased to 109.7 this month, up from 102.5 in May, the Conference Board reported on Tuesday.
Consumers' assessment of current business and labour market conditions also rose to 155.3.
“Consumer confidence improved in June to its highest level since January 2022, reflecting improved current conditions and a pop in expectations,” said Dana Peterson, chief economist at the board.
The Expectations Index, which measures a six-month outlook, rose to 79.3.
Although it jumped from the month before, the sub-80 reading shows consumers continue to expect a recession in the next six to 12 months.
More consumers said jobs were “plentiful” in June. Meanwhile, the gap between “plentiful” and “hard to get” jobs measures widened to 34.4 per cent.
Plans to purchase cars and homes have slowed in June, however.
The board said there was a “notably brighter outlook for consumers' family finances”, with 30 per cent expecting their financial situation to improve in the next six months.
The improved disposition reflects a further decline in inflation. Data released on Tuesday showed the 12-month inflation expectations gauge fell to 6 per cent this month, its lowest since December 2020.
Tuesday's report comes before a closely monitored inflation metric cited by the Federal Reserve as part of its interest rate decisions.
KILLING OF QASSEM SULEIMANI
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net
My Cat Yugoslavia by Pajtim Statovci
Pushkin Press
The biog
Name: Younis Al Balooshi
Nationality: Emirati
Education: Doctorate degree in forensic medicine at the University of Bonn
Hobbies: Drawing and reading books about graphic design
Non-oil%20trade
%3Cp%3ENon-oil%20trade%20between%20the%20UAE%20and%20Japan%20grew%20by%2034%20per%20cent%20over%20the%20past%20two%20years%2C%20according%20to%20data%20from%20the%20Federal%20Competitiveness%20and%20Statistics%20Centre.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIn%2010%20years%2C%20it%20has%20reached%20a%20total%20of%20Dh524.4%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3ECars%20topped%20the%20list%20of%20the%20top%20five%20commodities%20re-exported%20to%20Japan%20in%202022%2C%20with%20a%20value%20of%20Dh1.3%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3EJewellery%20and%20ornaments%20amounted%20to%20Dh150%20million%20while%20precious%20metal%20scraps%20amounted%20to%20Dh105%20million.%C2%A0%3C%2Fp%3E%0A%3Cp%3ERaw%20aluminium%20was%20ranked%20first%20among%20the%20top%20five%20commodities%20exported%20to%20Japan.%C2%A0%3C%2Fp%3E%0A%3Cp%3ETop%20of%20the%20list%20of%20commodities%20imported%20from%20Japan%20in%202022%20was%20cars%2C%20with%20a%20value%20of%20Dh20.08%20billion.%3C%2Fp%3E%0A
