NEW YORK -- U.S. consumer sentiment improved in late June, ending the month close to a near six-year high set in May, as optimism among higher-income families rose to its strongest level in six years, a survey released on Friday showed.
Economists polled by Reuters had forecast the final June reading of 82.8.
"Consumers believe the [economic] recovery has achieved an upward momentum that will not be easily reversed," survey director Richard Curtin said in a statement.
He added the recent drop in stock prices and the jump in mortgage rates haven't caused a deterioration in consumers' view on the economy.
"To be sure, few high or low income consumers expect the economy to post robust gains or think the unemployment rate will drastically shrink during the year ahead," Curtin said.
The barometer of current economic conditions ended at 93.8 in June, down from 98.0 in May. This was above an early June reading of 92.1 and economists' forecast of 92.8.
The survey's gauge of consumer expectations ended June at its highest level since October at 77.8, up from 75.8 in May. The latest reading was stronger than the preliminary June figure of 76.7. Economists had projected a late-June figure of 77.0.
There was a divergence in outlook between higher-income families and lower-income ones, according to the latest survey.
Higher-income households showed increased optimism about their incomes and wealth, while lower-income ones reported less optimism. Families in the top third income bracket were the most optimistic since the June 2007 survey.
The survey's one-year inflation expectation ended June at 3.0 percent down from 3.1 percent in May and from the 3.2 percent in early this month.
The survey's five-to-10-year inflation outlook ended unchanged at 2.9 percent for a third straight month. It dipped from 3 percent in early June.
Save Money, Fight Climate Change: 5 Ways to Stay Cool This Summer
Consumer Sentiment Rises in Late June to Near High
It's basic physics: light colored roofs reflect light -- and heat -- while darker ones absorb it. For all the simplicity of the idea, the potential savings impact is huge: Homes with light colored paint or shingles can cost up to 20 percent less to cool. Plus, all that solar energy causes dark-colored shingles to wear out more quickly, shortening the life of the roof. (For more detail, check out our Savings Experiment video below.) So if you're due for a roof replacement anytime soon, consider cooling off your roof with lighter shingles, or aluminum panels painted white.
As a side note, if your roof is flat, you might consider installing a green roof. Not only do they provide a great place to plant veggies, but green roofs can help conserve water while lowering your heating and cooling costs even further!
This seems pretty obvious, but if you're in the middle of a heat wave, try not to cook indoors. If you have the option, grill outside; alternatively, try a picnic-style dinner of sandwiches, salads, gazpacho, and other chilled foods.
While you're at it, you might want to cut down on other sources of indoor heat, like incandescent lights, hair dryers, clothes washers and dryers, and dishwashers. Try running washers and dryers at non-peak hours, think about installing CFL bulbs, make sure to turn off your lights, and keep appliances properly cleaned and serviced so they run at maximum efficiency.
Most of the cooling that you feel on a daily basis comes from liquid evaporating off your skin. With that in mind, you'll find that you'll stay much cooler if you keep lots of air moving around. Strategically placed fans keep cool air moving. Experiment with cross-ventilation: on the shady side of your house, position your fans to blow air in. Meanwhile, on the sunny side, position fans to blow air out.
You don't have to rely on perspiration -- or even on fans -- to keep your body cool. You can help things along with a cold, water-soaked washcloth or with a misting spray bottle filled with water. If you really need to cool down, take a short shower, followed by a long, relaxing nap in front of a fan.
If it gets really hot and you really want to save on cooling, you'll need to get creative. Try going to the park -- or anywhere with trees -- cooling your heels in the local library, or strolling around the mall. Drink a lot of water. Avoid coffee, alcohol and soft drinks, as they can dehydrate you. Personally, I've found that showering with Dr. Bronner's Peppermint Magic Soap makes me feel a few degrees cooler (although, admittedly, the effect is diminished once temperatures go over 90 degrees). Or you could get really creative: BrokeMillennial advises snuggling up with bottles of frozen water to help keep you cool at night!