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 measure of Americans’ short-term expectations for income, business and the job market climbed to 74.6 this month from a dismal 68.8 in April. A reading under 80 can signal a potential recession in the near future. Consumers who said they plan to purchase a home remained at its lowest level since August 2012. Sales of existing homes slumped in April as high mortgage rates and rising prices discouraged potential buyers.Most economic indicators show the U.S. economy in good shape by historical standards, though there have been some signs that it is cooling off.
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