Consumer Behavior

Consumer confidence rose in May

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June 18, 2024

Consumer confidence rose in May yet consumers remain anxious about the future, according to the Consumer Confidence Index produced by The Conference Board.

The present situation index, which reflects consumer assessment of business and labor market conditions, increased to 143.1 in May, compared to 140.6 in April, according to a press release on the index findings.

The expectations index, which is based on consumers' short-term outlook relating to income, business and labor market conditions, increased to 74.6 in May, compared to April's 68.8.

"Confidence improved in May after three consecutive months of decline," Dana M. Peterson, chief economist at The Conference Board, said in the release. "Consumers' assessment of current business conditions was slightly less positive than last month. However, the strong labor market continued to bolster consumers' overall assessment of the present situation."