follow us

Consumer confidence rebounds in May

New York-- With Americans feeling more buoyant about current business conditions, consumer confidence bounced back in May from an April downturn, advancing by 1.6% to a level of 108.0 from 106.3 the month before, according to The Conference Board.

Lynn Franco, director of the business think tank's Consumer Research Center , said, "The bounce-back in confidence was due primarily to a more upbeat assessment of present-day business conditions. Consumers' view of the job market, both present and six months from now, was little changed and did not provide a boost in confidence."

Despite the rebound in May, "The short-term outlook remains cautious, and rising gasoline prices are having a negative impact on consumers' inflation expectations. All in all, confidence levels continue to suggest growth, albeit at a slow pace."

Looking out six months, consumers remain cautious, said The Conference Board. The number who expect conditions to improve rose to 15.1% from 13.8%, while the number who expect conditions to worsen advanced as well, rising to 10.1% from 9.7%. The outlook for the job market six months out was unchanged, with the number who expect more jobs holding steady at 13.3%, while 15.7% expect fewer jobs, also unchanged.

The number who expect their income to increase fell to 17.7% from 18.4% in April.

Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today