US consumer confidence jumps to 60.5 in June, beating expectations

WASHINGTON

US consumer confidence rose sharply in June, with the University of Michigan's index climbing to 60.5, significantly above the market forecast of 53.5.

The index, which was at 52.2 in May, jumped 8.3 points, reflecting improving sentiment among American consumers.

The current economic conditions index, measuring views on personal finances and the broader economy, rose to 63.7, up 4.8 points from the previous month. The consumer expectations index, which gauges long-term economic outlook, surged 10.5 points to 58.4.

Inflation expectations fall

Short-term inflation expectations dropped from 6.6% to 5.1%, while long-term projections edged down from 4.2% to 4.1%, both hitting their lowest levels in three months.

While concerns about the inflationary impact of trade tariffs eased, expectations remain elevated compared to levels seen in the latter half of 2024, suggesting continued caution around future US trade policy.