Key Point: “U.S. consumer confidence improved for a sixth straight month in July to a fresh pandemic high as Americans grew more optimistic about current business and labor market conditions.”
Bloomberg: Consumer Confidence in U.S. Unexpectedly Rises for Sixth Month
By Olivia Rockeman
July 27, 2021
- U.S. consumer confidence improved for a sixth straight month in July to a fresh pandemic high as Americans grew more optimistic about current business and labor market conditions.
- The confidence gauge is nearing pre-pandemic levels, suggesting that consumers are growing more upbeat as economic activity resumes.
- Consumers said they were more likely to purchase cars, homes and major appliances in the next six months. The share of consumers who plan to buy appliances was at the highest level since the end of 2017.
- Expectations for future income and job availability both improved. The share of respondents that said they expect their incomes to increase in the next six months picked up to 20.6%, the highest since February 2020.