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US consumer confidence rises in May after three months of declines

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Inflation News

General News,Recessions And Depressions,U.S. News

Consumer confidence in the U.S. rose in May following three straight months of declines, but Americans remain anxious about elevated inflation and interest rates. The Conference Board, a business research group, said Tuesday that its consumer confidence index rose in May to 102 from 97.5 in April. Analysts were expecting the index to decline again.

A line of unsold 2024 F150 pickup trucks sit at a Ford dealership Sunday, May 19, 2024, in Denver. The Conference Board reports on U.S. consumer confidence for May on Tuesday, May 28, 2024. WASHINGTON — Consumer confidence in the U.S. rose in May after three straight months of declines, though Americans are still anxious about inflation and interest rates.

The index measures both Americans’ assessment of current economic conditions and their outlook for the next six months. Consumer expectations of a recession in the next year rose again in May but are still well below their peak in May of 2023. More than two-thirds of respondents to the survey said they believe a recession is “somewhat” or “very” likely in the next 12 months. That’s in contrast to the Conference Board’s survey of CEOs, only about a third of whom foresee a recession in the next 12 to 18 months.

 

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