Consumers are expressing more confidence in the economy, but they're not exactly demonstrating it by actually

participating

in that economy.

The Index of Consumer Confidence rose 0.7 points to 82.1 in June, the fourth consecutive monthly increase. Altogether, confidence grew 10.6 points in the second quarter.

In June, 12.8% of respondents said their finances had improved in the past six months, up 1.4 points, while 28.1% said their finances had worsened, down 1.3 points.

And looking forward, 27% said they think their financial situation will improve in the next six months, up 2.2 points.

This could be because respondents also foresee more job opportunities arising. Those who expect more jobs reached 16.9%, while those who see fewer jobs fell to 33.7%, a decline of 4.1 points.

But shoppers are still tightly holding on to their cash. Earlier today the Commerce Department said

consumer spending in May

rose a modest .3%, while the savings rate soared to 6.9%.

Fewer consumers, 41.3%, are saying now is the right time to make a major purchase such as a car or home, down 3.7%. On the flip side, 47.7% said it is a bad time to make such a purchase, up 3.2% for the month.

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