A shopper walks with shopping bags. As businesses mark the next stage in New York City’s reopening of the economy today, pedestrian and vehicle traffic has increased significantly.
John Lampaski | SOPA Pictures | Getty Images
According to data released on Tuesday, the consumer confidence index rose more than expected in June due to the relaxation of home and quarantine restrictions in the United States.
The Consumer Confidence Index of the Conference Committee rose to 98.1
Lynn Franco, senior director of economic indicators for the conference committee, said: “The reopening of the economy and the relative improvement in the unemployment rate will help improve consumers’ assessment of the current situation.” Franco pointed out that “the current situation The index shows that the economic situation is still weak. Looking ahead, consumers are not so pessimistic about short-term prospects, but economic activity is not expected to pick up significantly.”
Franco said: “In the face of an uncertain and uneven recovery path, and the potential recovery of COVID-19, it is too early to say that consumers have turned into a crisis and are ready to spend before the pandemic.”
The current status index of the board of directors rose from 68.4 to 86.2, and the short-term prospects of consumers have also improved.
Through the relaxation of measures aimed at curbing the coronavirus pandemic across the country, efforts have been made to reopen the US economy. This not only increases consumer confidence, but also makes stock prices soar. However, as coronavirus cases increased again, some states had to delay reopening.
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