Press Release - President Biden's Economic Plan is Working As Consumer Confidence Hits Highest Level Since Pandemic Shutdown

President Biden's economic plan is working. The Consumer Confidence Index – a measure of consumers' assessments of the economy – is at its highest level since since March 2020. The Index increased from 120 in May to 127.3 in June, exceeding consensus expectations of 119.0. This latest increase in June marks the fourth straight month of gains, as Americans continue to feel the results of President Biden's historic economic and health plans. It's clear: Americans are more optimistic about current economic conditions, as well as the future.

According to the Senior Director of Economic Indicators at The Conference Board, "Consumers' short-term optimism rebounded, buoyed by expectations that business conditions and their own financial prospects will continue improving in the months ahead."

According to the Conference Board, "The proportion of consumers planning to purchase homes, automobiles, and major appliances all rose—a sign that consumer spending will continue to support economic growth in the short-term. Vacation intentions also rose, reflecting a continued increase in spending on services."

A record level of consumers see the jobs market improving, as the share of consumers saying jobs are plentiful increased to a 21-year high of 54.4%. The labor differential – the difference between consumers who say that jobs are plentiful and those who say jobs are hard to get – is at its highest since 2000, too.

President Biden's economic plan is working.

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