Steady job growth boosts US consumer confidence
Source: AP-Excite
By CHRISTOPHER S. RUGABER
WASHINGTON (AP) — Strong job growth lifted U.S. consumer confidence this month, as Americans looked past the economy's dismal first quarter performance.
The University of Michigan says that its index of consumer sentiment rose slightly to 82.5 in June from 81.9 in May. That is still below April's reading of 84.1, which had been the highest in almost a year.
The reading suggests consumers shrugged off the economy's first quarter contraction. Still, the survey was conducted before the government said the economy shrank much more than previously estimated, at an annual rate of 2.9 percent rather than 1 percent.
And better confidence hasn't yet translated into more spending.
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Read more: http://apnews.excite.com/article/20140627/us--consumer_sentiment-edd0906c12.html
FILE - In this Friday, Nov. 23, 2012 file photo, a cashier hands a customer his change and receipt during a transaction at a Sears store, in Henderson, Nev. The University of Michigan issues its index of consumer sentiment for June, 2014 on Friday, June 27, 2014. (AP Photo/Julie Jacobson, File)
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