Consumer confidence at 5-year high

  @CNNMoney June 25, 2013: 11:02 AM ET
consumer confidence credit card wallet

Consumer confidence hit a five-year high in June.


A measure of consumer confidence rose to its highest level in more than five years in June, as those surveyed see better financial times ahead.

The index from the business research firm The Conference Board rose to 81.4, after the third straight month of gains. Readings for consumers' view of both current conditions and the outlook for six months from now also improved.

The survey also found consumers expecting their own financial conditions to improve and for jobs to be more plentiful in the month ahead, although they were slightly less optimistic about stock prices.

Lynn Franco, director of economic indicators at The Conference Board, said the improved outlook, coupled with the better view of current conditions, suggests that the pace of overall economic growth is "unlikely to slow in the short term, and may even moderately pick up."

Related: 2014 --When the economy finally takes off

Strong consumer confidence in the economy can spur them to spend more, especially on big ticket items such as cars and homes. Both the housing market and car sales have been posting big year-over-year gains so far this year, providing important boosts to the economy. To top of page

Join the Conversation
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.36%4.24%
15 yr fixed3.39%3.26%
5/1 ARM3.36%3.27%
30 yr refi4.34%4.22%
15 yr refi3.38%3.24%
View rates in your area
Find personalized rates:
Rate data provided
CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.