US consumer confidence surges to 5-year high

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Consumer confidence in the United States surged to a new 5-year high in June, according to the Conference Board, besting analyst expectations by a wide margin. Consumer confidence stood at 81.4 in June, up from the revised 74.3 in May and well above the 75 forecast by analysts. The June figure represents the third straight monthly increase and takes the index to the highest level since January 2008, the Conference Board said. Most of the report’s vectors pointed in a positive direction. Consumers who see jobs as “plentiful” increased to 11.7 percent from 9.9 percent, though those claiming jobs are “hard to get” also rose to 36.9 percent from 36.4 percent.

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