US consumer confidence at five-year high in June

Listen to this article

WASHINGTON — Americans’ confidence in the economy rose to its highest level in more than five years, bolstered by a more optimistic outlook for hiring.

The Conference Board, a New York-based private research group, said Tuesday that its consumer confidence index jumped to 81.4 in June. That’s the best reading since January 2008. And it is up from May’s reading of 74.3, which was revised slightly downward from 76.2.

Consumers’ confidence in the economy is watched closely because their spending accounts for about 70 percent of U.S. economic activity.

The report shows consumers are more positive about current economic conditions and have a more optimistic view of the economy and job market in the next six months.