U.S. Consumer Confidence Jumps; Producer Prices Increase

[Purveyor]

Source: Reuters

U.S. consumer confidence surged in early June on expectations that a tightening labor market would spur big wage raises, which could further stimulate spending and overall economic growth later this year.

The upbeat consumer sentiment survey on Friday capped off a week of strong economic data and was the latest indication that growth was regaining momentum after a sluggish start to the second quarter.

The rise in sentiment came despite higher gasoline prices, which contributed to producer prices recording their biggest increase in more than 2-1/2 years in May.

Strong consumer confidence, together with a tightening labor market, bullish retail sales and firming inflation pressures may provide the Federal Reserve reassurance about the U.S. economic outlook amid expectations it will hike interest rates this year.

Read more: http://www.reuters.com/article/2015/06/12/us-usa-economy-idUSKBN0OS1CE20150612

[winstars]

1. Thanks OBAMA!!!

Someone telling me that the President has very little to do with this in 3,2,1...


Its a joke!