Conference Board News Release (05/26/15)
The Conference Board Consumer Confidence Index, which had declined in April, increased moderately in May. The index now stands at 95.4, up from 94.3 in April. The Present Situation Index increased from 105.1 in April to 108.1 in May. The Expectations Index edged down from 87.1 in April to 86.9 in May.
“Consumer confidence improved modestly in May, after declining sharply in April,” says Lynn Franco, director of economic indicators at the Conference Board. “After a three-month slide, the Present Situation Index increased, propelled by a more positive assessment of the labor market. Expectations, however, were relatively flat following a steep decline in April. While current conditions in the second quarter appear to be improving, consumers still remain cautious about the short-term outlook.”
Consumers were mixed in their assessment of the job market. Those stating jobs are “plentiful” increased from 19.0% to 20.7%, while those claiming jobs are “hard to get” rose from 25.9% to 27.3%.