Reported 4 months ago
US consumer confidence unexpectedly rose in May, attributed to optimism regarding the labor market while inflation worries persisted. The Conference Board reported an increase in consumer confidence to 102.0 from 97.5 in April, outperforming expectations. Consumers showed positivity towards the stock market and major household appliance purchases, despite concerns about higher interest rates and potential recession. Perceptions of the labor market also improved, indicating ongoing positive job growth and wage increases.
Source: YAHOO