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.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
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England's lowest Test innings
- 45 v Australia in Sydney, January 28, 1887
- 46 v West Indies in Port of Spain, March 25, 1994
- 51 v West Indies in Kingston, February 4, 2009
- 52 v Australia at The Oval, August 14, 1948
- 53 v Australia at Lord's, July 16, 1888
- 58 v New Zealand in Auckland, March 22, 2018
Bundesliga fixtures
Saturday, May 16 (kick-offs UAE time)
Borussia Dortmund v Schalke (4.30pm)
RB Leipzig v Freiburg (4.30pm)
Hoffenheim v Hertha Berlin (4.30pm)
Fortuna Dusseldorf v Paderborn (4.30pm)
Augsburg v Wolfsburg (4.30pm)
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)
Sunday, May 17
Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)
Monday, May 18
Werder Bremen v Bayer Leverkusen (9.30pm)
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%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
Qosty Byogaani
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Four stars
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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