The consumer confidence index climbed to its highest level in five years, hitting 81.4 in June from a revised 74.3 last month, The Conference Board reported Tuesday.
The May index was originally reported as 76.2.
The present situation index grew to 69.2 from 64.8, while the expectations index soared to 89.5 from 80.6.
Economists polled by Thomson Reuters predicted a 75.2 reading for the index.
"Consumer Confidence increased for the third consecutive month and is now at its highest level since January 2008 (Index 87.3)," said Lynn Franco, director of The Conference Board's Consumer Research Center. "Consumers are considerably more positive about current business and labor market conditions than they were at the beginning of the year. Expectations have also improved considerably over the past several months, suggesting that the pace of growth is unlikely to slow in the short-term, and may even moderately pick up."
Business conditions were called "good" by 19.1% of respondents in June, unchanged from May. Those saying conditions are "bad" slid to 24.9% from 26.0%.
The percentage of consumers expecting a pickup in business conditions in the next half year rose to 20.3% from 18.7%, while 11.4% said they expect conditions to worsen, down from 12.2% the prior month.
On the jobs front, those who believe jobs are "plentiful" climbed to 11.7% in June from 9.9% in May, while the number saying jobs are "hard to get" grew to 36.9% from 36.4%. The respondents who see fewer jobs becoming available in a half year, decreased to 16.1% from 20.0%. Those expecting more jobs to become available gained to 19.6% from 16.3%, The Conference Board reported.
