In May, US consumer confidence rose, driven by labor market optimism, despite concerns about inflation and interest rates.
Consumer confidence in the US rose in May following three straight months of declines, driven by optimism about the labor market. The Conference Board's Consumer Confidence Index increased to 102 from 97.5 in April. Despite the improvement, Americans remain anxious about inflation and interest rates. The measure of Americans' short-term expectations for income, business, and the job market climbed to 74.6 in May from a dismal 68.8 in April. A reading under 80 can signal a potential recession in the near future.
May 28, 2024
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