Consumer Confidence: Solid Gains

Bottom Line:  The Conference Board's Consumer Confidence Index rose moderately in June, with the current situation index nearing a two-year high. Surprisingly, more consumers surveyed said jobs were "plentiful," while slightly fewer saw jobs as "hard to get." Income expectations, though, were mostly unchanged. And consumers still reported fewer plans to buy autos and homes and fewer plans for leisure travel. The report is encouraging but should be taken with a grain of salt, given how much lower confidence remains than pre-pandemic averages.