(Reuters) U.S. consumer confidence in the economy jumped to its highest level in nearly 6-1/2 years in June and sales of new homes surged in May, the latest signs that the economy has regained momentum. The Conference Board said its consumer confidence index rose to 85.2, the highest reading since January 2008, from 82.2 in May as households grew more optimistic about the labor market. In another report, the Commerce Department said new home sales vaulted 18.6 percent to a seasonally adjusted annual rate of 504,000 units, the highest level since May 2008.


“This is convincing evidence that the economy continues to expand,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ in New York. “It takes a lot of confidence to buy the biggest of big ticket items consumers ever face, buying a new home.”

New home sales increased in all four regions. They hit a six-year high in the Midwest and were the highest since June 2008 in the South.

(Continue reading on Reuters: Consumer confidence, housing data bolster U.S. growth outlook

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