A measure of U.S. consumer confidence remained near a six-year high in June as higher home and stock prices boosted household wealth.
Rising household wealth was the main reason consumers stayed optimistic. Households with income above $75,000, those more likely to own homes and stocks, reported the biggest gain.
More Americans said they planned to buy a home, despite rising mortgage rates. The number of consumers who said it was a bad time to buy a home fell to the fewest in 10 years.
Consumers’ confidence is closely watched because their spending accounts for 70 percent of economic growth.