U.S. consumer confidence rebounded in May, snapping a three-month losing streak, according to a report by The Conference Board. The index reached 102, exceeding analyst predictions for another decline.
This survey gauges both current economic perceptions and expectations for the next six months. The short-term outlook on income, business conditions, and the job market improved significantly, climbing to 74.6 from a low of 68.8 in April. It’s important to note that readings below 80 on this measure can indicate a possible recession on the horizon.
Although confidence is rising, concerns about inflation and interest rates persist among American consumers. The report also showed a positive shift in how consumers view current economic conditions, with the index rising to 143.1 in May compared to 140.6 in April.
