US consumer confidence at 17-month high
In the US, the Conference Board released June data on the Consumer Confidence Index, which measures the trends of American consumers.
Accordingly, consumer confidence index increased by 7.2 points to 109.7 in June compared to the previous month.
Consumer Confidence, which was above market expectations, was expected to reach 104 in this period. The consumer confidence index was recorded as 102.5 in May.
The current situation index, which reflects American consumers’ assessments of current job and labor market conditions, rose 6.4 points to 155.3 in June.
The expectations index, which reflects short-term evaluations for the future, increased by 7.8 points to 79.3 in the same period.
The prospects index is above 80 in all months since February 2022 except December 2022. under left. The fact that the index is below 80 indicates that a recession is expected in the next year.
Decline in inflation expectations
Conference Board Chief Economist Dana Peterson, whose views were included in the statement, stated that consumer confidence recorded its highest level since January 2022 in June, reflecting improved current conditions and expectations.
Emphasizing that the indicators regarding expectations continue to signal that consumers expect a recession in the next 6 to 12 months, Peterson said that expectations for the next 6 months have improved significantly, reflecting increased confidence in future business conditions and job availability.
