The Conference Board's consumer confidence gauge just hit its highest level in two years.
The Conference BoardAmericans have rosier views of the labor market, the data showed, and more people reported feeling "good" about family finances while fewer reported feeling "bad."
"[B]oth indicators are on an upswing as consumers take positive signals from the resilient labor market and receding inflation in recent months," the Barclays analysts wrote.
The improving economic outlook reflects easing inflation and the ongoing resilience of the labor market, Peterson said.
"This likely reveals consumers' belief that labor market conditions will remain favorable."
Persons:
Dana Peterson, Peterson
Organizations:
Service, Privacy, Conference, Conference Board, Barclays, University of Michigan, Federal Reserve
Locations:
Wall, Silicon