The White House said on Tuesday that President Joseph R. Biden‘s economic plan “is working” after the Consumer Confidence Index – a measure of consumers’ assessments of the economy – hit its highest level since February 2020.
The Index, which exceeded consensus expectations, increased to 129.1 in July, the sixth straight month of gains.
According to the Senior Director of Economic Indicators at The Conference Board, “Q3 is off to a strong start. Consumers’ optimism about the short-term outlook didn’t waver, and they continued to expect that business conditions, jobs, and personal financial prospects will improve.”
“It’s clear that President Biden’s economic plan is working – and consumers agree,” the White House wrote in a brief statement.