The Conference Board’s index of consumer confidence increased to 101.4 in June from 94.6 a month earlier, the New York-based private research group said Tuesday.
The median forecast of 75 economists in a Bloomberg survey called for a reading of 97.4. Estimates ranged from 94.5 to 100.6. The index averaged 96.9 during the last expansion and 53.7 during the recession that ended June 2009.
Another report Tuesday showed home prices in 20 U.S. cities rose at a slower pace than projected in April. The S&P/Case-Shiller index of property values climbed 4.9 percent in the 12 months ended in April after a 5 percent year-over-year gain a month earlier. The Bloomberg survey median called for a 5.5 percent advance.