After a mixed picture in May (current conditions dipped but expectations rose), The Conference Board's headline consumer confidence data was expected to rebound significantly in June, and it did - smashing expectations with a 98.1 print against 91.5 expectations and 85.9 prior).
Both current and future expectations surged...
Present situation confidence rose to 86.2 vs 68.4 last month
Consumer confidence expectations rose to 106.0 vs 97.6 last month
But as the chart shows, things are far from 'normal'...
While the move in confidence does not look impressive, it is the biggest jump since late 2011.
Notably the biggest gainer here was 'hope' which is back at its Feb 2020 highs while current conditions and the headline confidence remain seriously low compared to February's "normal".
So hope is now higher on the year while current conditions have collapsed and barely bounced.