US consumer confidence approaching prepandemic level

The Conference Board Consumer Confidence Index® (CCI) improved further in June, following gains in each of the previous four months. The Index now stands at 127.3 (1985=100), up from its trough of 85.7 in April 2020 and just below its pre-pandemic reading of 132.6 in Feb 2020. The steady rise in confidence bodes well for the US economic recovery.