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Surprise Beat For Consumer Confidence, Labor Differential Also Stronger

US DATA
  • The Conference Board consumer confidence index saw a surprisingly large beat in June as it increased from 102.5 to 109.7 (cons 103.9) takes it to its highest since Jan’22.
  • Sizeable gains were seen in both present situation and expectations.
  • Within the details and notably ahead of next week's payrolls report, the labor differential also unwound much of May’s decline, rising from 30.7 to 34.4 mainly on an increase in the perception of "jobs plentiful".

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