Consumer confidence in the US reached its highest level since the start of the pandemic.

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source: www.cbs42.com/

Consumer confidence in the US reached its highest level since the start of the pandemic.

In the 20 cities analyzed, there were annual increases compared to the previous month, with Phoenix (Arizona), Seattle (Washington), and San Diego (California) leading the way with gains of more than 20%.

It is a new indicator of the recovery of the US economy, which returned to levels similar to those of March 2020.

US consumer confidence improved markedly in June, reaching its highest level since the start of the pandemic in March 2020, reflecting the economy's recovery, according to the Conference Board index released Tuesday.

The index stood at 127.3 points, compared to 120 in May (revised up), above analysts' expectations of 120 points.

The component that measures consumer perception of current conditions gained 9 points to 157.7. In comparison, the part that counts expectations in the next six months rose to 107 points (+6 points), according to a statement.

A review of the current consumer situation has once again improved, suggesting that economic growth has strengthened further in the second quarter.

Despite rising prices in recent months, households seem unconcerned about the risks of runaway inflation.

On Friday, the University of Michigan released its consumer confidence survey in June, which also showed greater optimism.

Housing, in negative indices

Meanwhile, according to the specific indicator released Tuesday, the median house price in the US grew in April at the highest annual rate in the last 15 years, amid the housing shortage and low-interest rates.

The S&P CoreLogic Case-Shiller National Home Price Index, which measures the median price of homes in major US metropolitan areas, grew at an annual rate of 14.6% in April, up from 13.3% in April. March.

In the 20 cities analyzed, there were annual increases compared to the previous month, with Phoenix (Arizona), Seattle (Washington), and San Diego (California) leading the way with gains of more than 20%.

This boom, according to experts, responds to low-interest rates that drive demand and the continuing shortage of homes for sale, which allow sellers to increase the price.

The data also point to a higher demand for residential housing outside urban centers.