US consumer confidence hits high

New York - Consumer confidence in the United States rose three points in June to its highest level since January 2008, according to the long-running Conference Board survey released on Tuesday.

The New York-based business think tank's consumer confidence index for June stood at 85.2 points, up from 82.2 in May.

“Consumer confidence continues to advance and the index is now at its highest level since January 2008,” said Lynn Franco, the Conference Board's director of Economic Indicators.

“June's increase was driven primarily by improving current conditions, particularly consumers' assessment of business conditions.”

“Expectations regarding the short-term outlook for the economy and jobs were moderately more favourable, while income expectations were a bit mixed. Still, the momentum going forward remains quite positive,” she added. - Sapa-dpa