A measure of consumer confidence has rebounded to its highest level since the onset of the COVID-19 pandemic.

The Conference Board reported its Consumer Confidence Index rose 7.3 points to 127.3 in June. With gains for the past five months, the index has climbed to its highest level since March 2020.

“Consumers’ assessment of current conditions improved again, suggesting economic growth has strengthened further in Q2,” said Lynn Franco, senior director of economic indicators at the Conference Board. “Consumers’ short-term optimism rebounded, buoyed by expectations that business conditions and their own financial prospects will continue improving in the months ahead.”

Franco said the proportion of consumers who said they plan to purchase homes, automobiles and major appliances all rose — an indication consumer spending will support economic growth over the short term.

The business research and membership group bases the index on the results of monthly household surveys. Consumer spending accounts for more than two-thirds of economic activity.

Assessments of current conditions pushed the present situation component of the index up nine points to 157.7.

The proportion of consumers responding to the survey upon which the June index was based who characterized business conditions as “good” rose 4.6 points to 24.5. percent. The share of those who said conditions were “bad” fell 1.1 points to 19.5 percent.

The proportion of consumers who called jobs “plentiful” rose 5.9 points to 54.4 percent. The share of those who said jobs are “hard to get” slipped seven-tenths of a point to 10.9 percent.

Consumers also were more optimistic in their short-term outlook, pushing up the expectations component of the index 6.1 points to 107.

The share of consumers who said they expect business conditions to improve over the next six months rose 2.3 points to 33.3 percent. The proportion of those anticipating worsening conditions fell 3.8 points to 10.6 percent.

The share of those who expect more jobs to become available in coming months fell two points to 25.7 percent. But the proportion of those anticipating fewer jobs also fell — 1.5 points to 16 percent.

Asked about their expectations for income, 18.6 percent of those who responded said they anticipated increases in the next six months — up 2.4 points from May. Meanwhile, 8.5 percent said they expected decreasing income, down eight-tenths of a point.