From C.A.R. Newsline...
The Consumer Confidence Index rose to 63.3 in May (1985=100) compared with 57.7 in April, the Conference Board reported yesterday. The Present Situation Index increased to 30.2 in May from 28.1 in April, and the Expectations Index improved to 85.3 from 77.4 last month, according to the report.
"Consumer confidence posted its third consecutive monthly gain, and although still weak by historical levels, appears to be gaining some traction,” said Lynn Franco, director of The Conference Board Consumer Research Center. “Consumers’ apprehension about current business conditions and the job market continues to slowly dissipate.”
Consumers' assessment of current conditions continued to improve in May, with those claiming business conditions are "good" increasing to 10 percent in May compared with 8.9 percent in April, while those claiming conditions are "bad" decreasing to 39.3 percent in May compared with 40 percent in April. Consumers' appraisal of the job market also was more positive, according to the report.
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