After three months of declines, confidence among U.S. consumers ticked up though they remain anxious about inflation. Analysts were expecting the index to drop again.
Washington – Consumer confidence in the U.S. rose in May following three straight months of declines, but Americans remain anxious 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 were expecting the index to decline again.
The index measures both Americans’ assessment of current economic conditions and their outlook for the next six months.
The measure of Americans’ short-term expectations for income, business, and the job market climbed to 74.6 this month from a dismal 68.8 in April. A reading under 80 can signal a potential recession shortly.
Consumers’ view of current conditions rose to 143.1 in May from 140.6 in April.
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