US households are more optimistic about their situation, according to a preliminary confidence report. The headline confidence index rose to 94.6 in June vs. 91.2 expected and 90.7 in May. While there is still some way to go before the cyclical peak from January is reached (98.1), today's number marks a comeback following the May reading, which is the lowest reading of 2015 and the lowest since November.
The two sub-indices are both higher in June with the forward-looking expectations index gaining 2.6 points to 86.8 while the economic conditions index rose 6 points to 106.8. The 1-year inflation outlook dropped to 2.7% from 2.8%, and so too did the 5-to-10-year outlook.