NEW YORK (CNN/Money) - Consumer confidence in the economy was little changed in June, which put the latest measure of that sentiment better than expectations, according to a survey released Tuesday.
The Conference Board's survey of 5,000 households came in with a reading of 83.5, down from the 83.6 reading in May. Analysts surveyed by Briefing.com expected the reading to fall to 82.0.
Consumers are somewhat gloomier about the current state of the economy, but more optimistic about the future. The portion of the index that measures consumer's view of current economic condition showed a decline to 64.9 from 67.3 in May. But the expectations index that measures their outlook for six months from now rose to 95.9 from 94.5.
"Consumers have grown increasingly optimistic over the last three months," said a statement from Lynn Franco, director of The Conference Board's Consumer Research Center. "The recent turnaround in the stock market and an easing in unemployment claims should keep consumer expectations at current levels and may signal more favorable economic times ahead."
The number of consumers surveyed who expected more jobs to be available in six months increased to 19.0 percent from 17.9 percent, while those expecting fewer jobs to be available slipped to 17.3 percent from 17.8 percent.
Consumer confidence is seen as an important element in consumer willingness to spend money, and consumer spending accounts for about two-thirds of the U.S. economy. Various readings of consumer confidence fell to low points in March as the war in Iraq started, but the various measures have shown a rebound in the three months since then.
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