Conference Board News Release
The Conference Board Consumer Confidence Index, which had decreased in April, improved moderately in May. The index now stands at 83.0, up from 81.7 in April. The Present Situation Index increased to 80.4 from 78.5, while the Expectations Index edged up to 84.8 from 83.9.
“Consumer confidence improved slightly in May, as consumers assessed current conditions, in particular the labor market, more favorably. Expectations regarding the short-term outlook for the economy, jobs, and personal finances were also more upbeat,” says Lynn Franco, director of economic indicators at the Conference Board.
Consumers claiming jobs are “plentiful” rose to 14.1% from 13.0%, while those claiming jobs are “hard to get” decreased slightly to 32.3% from 32.8%. Those anticipating more jobs in the months ahead increased to 15.4% from 14.7%, while those anticipating fewer jobs edged up to 18.3% from 18.0%.