Consumer Confidence Up Slightly During May
Consumer confidence rose slightly this month as better weather, higher stock prices and signs of an improving job market lifted Americans’ mood.
The Conference Board said its Consumer Confidence Index rose to 83, up from 81.7 in April. It fell in April from 83.9 in March.
Consumers’ expectations for the economy in the short-term, jobs and personal finances also improved. The percentage of consumers expecting their incomes to grow over the next six months rose to the highest level since December 2007 — the month the recession began, said Lynn Franco of the Conference Board.
“Consumer confidence improved slightly in May, as consumers assessed current conditions, in particular the labor market, more favorably,” she said.