Consumer confidence and retail sales are aspects that often get paired together, as a rise in one figure could indicate an increase in the other. However, this is not always the case, but retailers are hoping that recent data pertaining to consumer optimism could help boost their revenues in the coming months.

The Associated Press reported that, according to the latest Consumer Confidence Index from The Conference Board, consumers are more optimistic about the economy now than they have been in the past five years. The most recent index stands at 81.4 in June, up from May's figure of 74.3. This month's level is the highest it has been in five years, and analysts are hopeful that the confidence boost will translate into increased retail sales throughout the country, the source noted.

However, preliminary figures from Redbook Research revealed that during the first three weeks of June, retail sales were down 0.5 percent from May, 24/7 Wall Street reported. On the other hand, the source explained that the summer months are usually lagging for the nation's merchants. Perhaps the sharp rise in consumer confidence could further propel sales over the coming months.

This entry was posted by Retail Pro on Wednesday, June 26th, 2013 at 11:33 am .