US consumer confidence has risen this month to the highest level since October, a private survey says.

The Conference Board’s consumer confidence index rose to 98 this month from 92.4 in May, snapping a two-month losing streak.

Americans’ assessment of current conditions rose to the highest level since September.

Their expectations for the future also grew sunnier as did their outlook for the strength of the job market.

Economists monitor confidence surveys because consumer spending accounts for about 70 per cent of US economic activity.

Separately, the Commerce Department reported on Tuesday that consumer spending rose at a 1.5 per cent annual pace from January through March, slowest in two years.

AP

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