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Consumer confidence rises for third consecutive month

June 25, 2013 at 10:27 AM

NEW YORK, June 25 (UPI) -- U.S. consumer confidence rose for the third consecutive month in June, the Conference Board said Tuesday.

June's gain is also the fourth increase in the past eight months. In June, the index climbed to 81.4, up from 74.3 in May.

The index is a comparison from 1985, which was assigned the value of 100.

In the most recent confidence survey, 19.1 percent of respondents to a survey that involves more than 5,000 households indicated they believe business conditions were "good," up from 18.8 percent in May.

Responses indicating a belief that business conditions were "bad" fell from 26 to 24.9 in the month.

The percentage of respondents indicating jobs were "plentiful," rose from 9.9 percent to 11.7 percent, while those indicating jobs were difficult held close to steady, but climbed from 36.4 percent to 36.9.

"Consumer confidence ... is now at its highest level since January 2008 (when the index stood at 87.3). Consumers are considerably more positive about current business and labor market conditions than they were at the beginning of the year," Conference Board Director of Economic Indicators Lynn Franco said in a statement.

"Expectations have also improved considerably over the past several months, suggesting that the pace of growth is unlikely to slow in the short-term, and may even moderately pick up," Franco said.

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