Americans are much more upbeat about the economy and job prospects this month as a gauge of consumers’ confidence reached its highest level since January 2008.
The Conference Board, a private research group, said its index of consumer confidence increased to 85.2 in June from a revised 82.2 in May, which was first reported as 83.0. The June reading was the highest since January 2008, just as the last recession was starting. The latest result also was above the 83.5 expected by economists.
Sentiment indicators can carry a lot of weight, especially when making the decision to invest in real estate. In the final analysis, it’s a known fact that the happiness and spending ability of consumers is the most important determinant of an expanding economy.