June Consumer Confidence Rises

he Conference Board said Tuesday its index of U.S. consumer confidence rose in June to a 105.8 reading, from May’s 103.1, to the highest level in three years.

he increase was the second straight following three declines and topped the 104 level predicted by analysts, Bloomberg reported. May’s consumer confidence index had been originally reported at 102.2.

The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.

The survey’s present situations index rose to 120.7, the highest level since September 2001, from 117.8. The expectations index rose to 95.8 from 93.4.

The proportion of consumers who saw jobs as plentiful fell to 22.6% in June from 22.9% in May. The proportion of those who expected more jobs to become available in coming months held at 15.2%, the highest since January.

The Conference Board surveys 5,000 households on general economic conditions, their employment prospects and spending plans.