U.S. consumer confidence highest since October

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Washington • U.S. consumer confidence rose 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 percent of U.S. economic activity.

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