What:  The mood is good for now in the US when it comes to consumption.

Why it is important: There are however some mixed feelings on specific topics that echo what we have found in our Liaison Officer Report from June 2023.

The Conference Board Consumer Confidence Index in the US rose by over seven points to 109.7 in June. Both present situation and future expectations components saw improvements. Concerns over a recession receded slightly but remain high, with 69.3% of consumers seeing a recession as likely in the next 12 months. However, consumers' views on their household finances are more optimistic, with more expecting improvements in the coming months.

Consumer inflation expectations for the next year fell slightly from 6.1 to 6.0, reflecting a slight drop in current headline inflation. Purchase intentions for major appliances and autos lessened slightly but remain relatively strong.

Consumer perceptions of the labor market also rebounded in June, showing continuing confidence in job availability. Views on the present business environment improved, while expectations for future business conditions remained negative but less so than in May. Income expectations remain positive but slightly weakened.

US consumer confidence up