U.S. consumers are more confident about the economy than they have been in nearly seven years, the Conference Board said Tuesday.
The board said that its confidence index rose to 90.9 in July from an upwardly revised 86.4 in June. The July reading is the highest since October 2007, two months before the Great Recession officially began.
July's reading marked the third straight increase in the index. Economists said that strong job growth has helped boost consumers' assessment of current conditions and also improved their outlook on jobs and the economy.
Consumer assessment of the labor market improved with those saying that jobs were plentiful increasing to 15.9 percent, up from 14.6 percent.
Consumers' expectations about the future were also more optimistic with those anticipating more jobs in the months ahead increasing to 19.1 percent, up from 16.3 percent in June.