The U of M consumer confidence index beat expectations, rising 3.9 pts to 94.6 in June (thus far). This is the highest in a couple of months and continues the pattern of alternating between being up/down since March.
However, what is encouraging is that both the current economic conditions and the expectations components picked up, only the 3rd time in 2015 that they've done so. And even as gasoline prices continue to move higher.
According to BMO Capital Markets, although this survey is revision prone (both ways), when you place it in the context of what we've seen so far.......strong job growth, retail sales, auto sales, consumer credit......it does suggest that the U.S. consumer is in a better place.
