United States: Consumer confidence recovers slightly in May
May 26, 2015
The Conference Board consumer confidence index inched up to 95.4 points in May from a revised 94.3 points in April (previously reported: 95.2 points). May’s result was roughly in line with market expectations and comes as good news after the largest lost in a year and a half was recorded in April.
May’s slight increase in confidence was driven by an improvement in consumers’ sentiment regarding current economic conditions and outlook on the future of the job market. In contrast, consumer expectations regarding business conditions over the next six months moderated.
The director of the Board explained that, “Consumer confidence improved modestly in May, after declining sharply in April. While current conditions in the second quarter appear to be improving, consumers still remain cautious about the short-term outlook.”
Author: Carl Kelly, Economist