Consumer sentiment, as measured by the Reuters/University of Michigan survey, increased to its highest level since January 2008, suggesting that improving economic conditions are helping to bolster attitudes towards the economic recovery.
Sentiment increased from 73.6 in April to 75.5 in mid-June, topping most economic forecasts.
Nonetheless, consumer sentiment has yet for move noticeably higher amid lackluster job prospects and still-high layoffs. Modest gains in confidence have helped retailers and the overall economy.
Improved hiring and increased job security would go a long way in fueling further increases in consumer confidence and putting the recovery on solid ground.
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