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Consumer confidence in the US increases in May, after three months of declines
WASHINGTON (AP) — U.S. consumer confidence rose in May after three consecutive months of declines, but Americans remain concerned about inflation and interest rates.
The Conference Board, a business research group, said Tuesday that its consumer confidence index rose in May to 102 from 97.5 in April. Analysts expected the index to fall again.
The index measures Americans’ assessment of current economic conditions and their outlook for the next six months.
A measure of Americans’ short-term expectations for income, business and the job market rose to 74.6 this month from a dismal 68.8 in April. A reading below 80 could signal a potential recession in the near future.
Consumers’ views on current conditions increased to 143.1 in May from 140.6 in April.