Consumer Confidence Increased in June to an Eight-Month High

Consumer confidence rose in June to an eight-month high as Americans became somewhat more optimistic about the economy, according to a report from the New York-based Conference Board on Tuesday.

Respondents said they anticipated more job and income gains in the coming six months, which may help lift spending after a first-quarter slowdown. The cutoff date for the survey was June 16, a week before Britain’s decision to leave the EU caused stock prices to slump, so investors will have to wait for the July reading to get a better idea of the impact U.K. vote. If sustained, the pickup in confidence shows consumer spending will probably improve and spur the economy.