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Americans feel a lot better about the economy now.

Consumer confidence, a vital indicator of future economic activity, has recently risen to its highest level in the United States since January 2022.

According to a survey published on Tuesday, the Conference Board’s Consumer Confidence Index rose to 109.7 in June from 102.5 in May.

Consumers’ attitudes toward the present remain more optimistic than those toward the future, according to the most recent study conducted by the business research and membership group. The Conference Board reported that both the current situation index and the expectations index increased from May, but that the latter still sits at a level indicative of an impending recession.

Consumers under the age of 35 and those with annual salaries of more than $35,000 showed the greatest increase in optimism, according to Dana Peterson, chief economist at the Conference Board. However, the expectations index showed that consumers still expected a recession to occur within the next six to twelve months.

The number of those who believe the economy will soon enter a recession fell, according to a report released on Tuesday.

Nonetheless, respondents reported lessening interest in making large purchases like homes and vehicles and cutting back on vacation plans overall.

Peterson argued that this could indicate that post-pandemic “revenge spending” on travel has reached its peak and will begin to decline in the coming months.

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