Consumer Confidence Rises Again
Consumer confidence in the U.S. economy jumped again in May, rising more than 14 points to its 54.9, its highest level since September of 2008, according to the Conference Board.
"Continued gains in the Present Situation Index indicate that current conditions have moderately improved, and growth in the second quarter is likely to be less negative than in the first," Conference Board Director Lynn Franco said as part of the announcement. "Looking ahead, consumers are considerably less pessimistic than they were earlier this year, and expectations are that business conditions, the labor market and incomes will improve in the coming months."
For more on the survey, visit www.conference-board.org