Reported 4 months ago
In May, US consumer confidence increased after three consecutive months of decline, with the Consumer Confidence Index rising to 102 from 97.5 in April. While Americans remain concerned about inflation and interest rates, their short-term expectations for income, business, and the job market improved. Additionally, plans to purchase cars and major appliances increased, but intentions to buy homes remained low. The economy, while still strong by historical standards, experienced a slowdown in the first quarter due to high interest rates and cautious consumer spending influenced by inflation.
Source: YAHOO