American households are feeling a little better. US consumer confidence rebounded sharply from a record low, suggesting some of the gloom weighing on sentiment may be lifting.
From the bottom
The bounce comes after confidence had slumped amid high prices, an uncertain jobs picture and geopolitical tensions. A recovery in sentiment can support consumer spending, a key engine of the US economy.
Watch the follow-through
Whether the rebound holds will depend on inflation, the labour market and developments abroad, including the Iran ceasefire. For now, the improvement is a welcome signal after a difficult stretch for the American consumer.
Source: Rio Times global economy briefing.