By Gwynn Guilford
A measure of U.S. consumer confidence turned up in June as the U.S. continued to reopen during the coronavirus pandemic, according to survey data released Tuesday.
The Conference Board, a private research group, said its index of consumer confidence edged up to 98.1 in June, from a revised 85.9 in May. Economists surveyed by The Wall Street Journal had expected a reading of 91.0.
"The re-opening of the economy and relative improvement in unemployment claims helped improve consumers' assessment of current conditions, but the present situation index suggests that economic conditions remain weak," said Lynn Franco, senior director of economic indicators at the Conference Board. "Looking ahead, consumers are less pessimistic about the short-term outlook, but do not foresee a significant pickup in economic activity."
The present conditions index rose to 86.2 from a revised 68.4 in May. The expectations index, which reflects consumers' views on the short-term economic outlook, climbed to 106.0 in June from a revised 97.6 last month. This month's consumer confidence data are based on survey responses collected June 1-18.
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(END) Dow Jones Newswires
June 30, 2020 10:44 ET (14:44 GMT)
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