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U.S. consumer confidence beats expectations in June

WASHINGTON, June 30 – U.S. consumer confidence increased more than expected in June, strengthening views that the economic downturn was likely over, though rising COVID-19 infections threaten to derail the budding recovery.

The Conference Board said on Tuesday its consumer confidence index rose to a reading of 98.1 this month from a downwardly revised 85.9 in May. Economists polled by Reuters had forecast the index rising to 91.8 in June from the previously reported reading of 86.6 in May. (Reporting by Lucia Mutikani Editing by Chizu Nomiyama)

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