Reported 4 months ago
Consumer confidence in the US rebounded in May, ending three months of decline, with the Conference Board's index rising to 102 from 97.5 in April, exceeding economists' expectations. The rise was fueled by a strong labor market, which offset slightly less positive views on current business conditions. Fewer consumers found jobs hard to get, and expectations for future business conditions improved. However, concerns about prices, particularly for food and groceries, still linger, with inflation expectations at 5.4%. Wealthier Americans, especially those making over $100,000 a year, showed the most confidence, with over 48% expecting stock prices to rise in the next year.
Source: YAHOO