Low interest rates and discounts on household durables and vehicles attracting increased spending.
Consumer confidence rose moderately in June along with the reopening of the economy in several parts of the country, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index was 78.1 in the June 2020 survey, up from 72.3 in May but well below last year’s 98.2. The Expectations Index rose to 72.3 in June, up from 65.9 in May and substantially below last year’s 89.3. The Current Conditions Index was 87.1 in June, up from 82.3 in May, but significantly below last June’s