Sunday, April 14, 2024
HomeBusiness NewsConsumer confidence soars to pre-pandemic levels

Consumer confidence soars to pre-pandemic levels

Consumer confidence is rising because Americans have brighter Future outlook Despite the lingering effects of the COVID pandemic, the risk of Delta mutation is imminent.

For the fifth consecutive month, Consumer confidence According to the latest news, it has increased and eventually returned to the level before the COVID pandemic. Consumer Confidence Index The conference committee was released on Tuesday.

The index soared 7.3 points to 127.3, the highest level since February 2020. The beginning of the COVID crisis.

When assessing the current business and labor market conditions, the Conference Committee’s status quo index showed an increase of 9 points from 148.7 last month to 157.7. An expectation index that provides short-term prospects for income, business and labor market conditions shows that consumer confidence has also soared to 107.0 from 100.9 in May.

Lynn Franco, senior director of economic indicators at the Conference Committee, said in a statement, “Consumers’ assessment of the current situation has improved again, indicating that economic growth has further strengthened in the second quarter. Consumers’ short-term optimism has rebounded, thanks to the It is expected that business conditions and their own financial prospects will continue to improve in the coming months.

The Consumer Confidence Index also shows that 24.5% of consumers believe that the business environment is “good”, up from 19.9% ​​in May, while 54.4% of consumers said that jobs are “sufficient”, which is also up from 48.5% in May.

The short-term outlook for June also rebounded, as 33% of consumers said they expect business conditions to improve in the short term, up from 31% a month ago. Consumers are also optimistic about their short-term financial prospects, with 18.6% of consumers expecting their income to increase, up from 16.2% last month.

However, consumers have mixed opinions on this labour market 25.7% said they expect more jobs in the coming months, down from 27.7% in May.

News of increased consumer confidence comes Coronavirus disease vaccine According to data from the United States, the promotion covers 66.1% of American adults Centers for Disease Control and Prevention.

But the risk still exists, especially for those who have not been vaccinated Delta variant COVID-19 continues to spread in the United States as a more transmissible mutation, accounting for 20% of current virus cases.

Photo: Reuters

Source link


Most Popular

Recent Comments