Consumer confidence improved in May after five straight months of declines as Americans grew more hopeful about prospects for a trade deal between the U.S. and China.
In preliminary readings for May, The Conference Board’s Consumer Confidence Index increased by 12.3 to 98.0, up from 85.7 in April. The Present Situation Index — based on consumers’ assessment of current business and labor market conditions — rose 4.8 points to 135.9. The Expectations Index — based on consumers’ short-term outlook for income, business and labor market conditions — jumped 17.4 points to 72.8.
Consumer confidence rebounds in May amid increased optimism | Chain Store Age