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Measure of US consumer confidence rises in June to highest level since January 2008

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In this Wednesday, May 15, 2013 photo, pedestrians walk in and out of the Walgreens flagship store in the Empire State Building, in New York. The private Conference Board reports on consumer confidence for June, on Tuesday, June 25, 2013. (AP Photo/Mark Lennihan)

WASHINGTON – Americans’ confidence in the economy rose to its highest level in more than five years, bolstered by a more optimistic outlook for hiring.

The Conference Board, a New York-based private research group, says its consumer confidence index jumped to 81.4 in June from 74.3 in May. Last month’s figure was revised slightly downward from 76.2.

Consumers’ confidence in the economy is watched closely because their spending accounts for about 70 per cent of U.S. economic activity.

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