Consumer confidence index rises to 101.4 in June, solid gain pointing to future growth

Economic Indicators Associated Press

Consumer confidence showed a solid gain in June following a modest increase in May, supporting the view that strong job gains are giving a boost to the overall economy.

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The Conference Board says its consumer confidence index rose to 101.4 in June, up from a May reading of 94.6. The June level matches the level in March before the index took a tumble in April.

The index is now 17.4 percent higher than it was a year ago, evidence that the economy is poised to enjoy stronger growth in coming months.