U.S. consumer confidence improved for the first time in six months.

On June 13, Joanne Hsu, director of the University of Michigan Consumer Survey, said that consumer confidence improved for the first time in six months, up 16% from the previous month, but still about 20% lower than in December 2024, when consumer confidence rebounded after the election. In addition, all five index components rose, with particularly large increases in short- and long-term expected business conditions, in line with the perception that tariff pressures have eased. Consumers appear to have recovered to some extent from the shock of the extremely high tariffs announced in April and the policy volatility that followed in the weeks that followed. However, consumers continue to see broad downside risks to the economy. Their views on business conditions, personal finances, commodity purchases, the labor market and the stock market are all much lower than they were six months ago in December 2024. Despite the obvious upturn in the economy this month, consumers remain cautious and worried about the direction of the economy.