Minneapolis CNN  — 

Americans’ outlook on the economy got even sunnier in July.

A key measure of consumer confidence shot up to its highest level in two years. The Conference Board’s Consumer Confidence Index hit 117 for the month, jumping up from a revised 110.1 in June, according to a report released Tuesday.

Economists were expecting the index to climb to 111.8, according to consensus estimates on Refinitiv.

“Headline confidence appears to have broken out of the sideways trend that prevailed for much of the last year,” said Dana Peterson, chief economist at the Conference Board, in a statement Tuesday. “Greater confidence was evident across all age groups, and among consumers earning incomes less than $50,000 and those making more than $100,000,” she said.

This story is developing and will be updated.