With continued strength in the US labor market, analysts at Nomura expect Conference Board’s consumer confidence index to increase to 130.0 in June, from 128.0 in May.
Key Quotes
“The preliminary University of Michigan consumer survey for June showed an improvement in consumer sentiment, driven by a more positive outlook for current economic conditions. This improvement appears consistent with firm consumer fundamentals in Q2 including a low unemployment rate and steady job growth. We expect the June Conference Board report to reflect this positive momentum, with further improvement in its labor market differential index.”
“Case-Shiller home price index: As the supply of existing homes for sale remains low, we expect the Case-Shiller composite-20 index to continue rising at a steady pace. While consumer demand appears to be strong, continued increases in home prices above the pace of income growth could dampen demand.”
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