Consumers have become more confident about their money and jobs as pandemic restrictions have eased.
US personal finance website WalletHub’s economic index has found confidence levels rose by more than 3.5 per cent across different categories this month compared with December 2020.
Consumers are now more confident that their debt levels will decrease over the next six months and that they will have a job, according to the index.
Positive sentiment about current consumer finances was up 3.9 per cent and rose 5.6 per cent when considering the next six months.
Respondents were less stressed about money, with this category falling 6.5 per cent.
Conservatives were found to be more confident, with the index for this cohort up six per cent, compared with 5.7 per cent for liberals.
“Consumers are significantly more confident about their financial outlook now than they were at the end of last year,” WalletHub said.
Consumer confidence has also been gradually increasing in the UK.
The latest Bank of England Money and Credit statistics found that consumer borrowing increased for a second consecutive month. Consumers borrowed more than they paid off in June, although overall they borrowed slightly less than they did in May.
Analysts said that the June statistics were a sign of growing consumer confidence, and the post-pandemic economic recovery.