US consumer mood at 9-mth high, price worries emerge

U.S. consumer confidence rose to a nine-month high in June, a survey showed on Friday, but inflation gauges showed worrisome signs of price increases that could slow any recovery from the longest recession since the Great Depression.

June's consumer confidence reading failed to surpass the level reached last September, when the spectacular failure of Lehman Brothers sent the world economy into a tailspin.

The Reuters/University of Michigan Surveys of Consumers said its preliminary index of confidence for June rose to 69.0 from May's 68.7. That was slightly below economists' expectations of a 69.5 reading, according to a Reuters poll.

For the third straight month, the overall consumer sentiment reading was at its highest since last September's 70.3.

Read Full Article from Reuters

- Posted: 2009-06-12 11:38:14

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