Us consumer confidence rose for the sixth month in a row in July, reaching its highest level since the outbreak. Americans are becoming more optimistic about business activity and employment.
The World large Enterprise Institute's consumer confidence index released on Tuesday rose to 129.1 from 128.9 in June. The median forecast by economists is 123.9. Inflation expectations fell slightly, but remained high and shopping sentiment increased.
Indicators of consumer confidence are close to pre-outbreak levels, indicating that consumers are becoming more optimistic about the future as economic activity resumes. Even so, concerns about inflation and delta variants have risen in recent weeks and are likely to dampen indicators of confidence in the coming months.
The current situation index of the World large Enterprise Research Association rose to 160.3, which is also a new all-time high.. The proportion of consumers who believe that jobs are "abundant" rose to a 21-year high. Consumers' perception of the current business environment has also improved slightly. Economic expectations are basically flat.
"consumers' assessment of the current situation remains stable, indicating a strong start to economic growth in the third quarter," Lynn Franco, a senior director at the World large Enterprise Research Association, said in a statement.
Consumers say they are more likely to buy cars, homes and major appliances in the next six months. The proportion of consumers planning to buy home appliances is at its highest level since the end of 2017.