U.S. consumer confidence went flat in June following a slight improvement in May, the Conference Board reported Tuesday.
The U.S. research group said its consumer confidence index stood at 83.5 in June, off 0.1 from May. The index is based on monthly surveys of 5,000 households.
While consumers’ expectations about their current situation were flat, their feelings about the future brightened. The Conference Board said its expectations index rose to 95.9 from 94.5 in May.
“While consumers’ assessment of current conditions has lost ground since April, expectations for the next six months are up,” Lynn Franco, the director of The Conference Board’s Consumer Research Center, said.
“In fact, consumers have grown increasingly optimistic over the last three months. The recent turnaround in the stock market and an easing in unemployment claims should keep consumer expectations at current levels and may signal more favorable economic times ahead,” Franco said.