Consumer confidence rebounds for first time in 3 months
==========
Consumer confidence unexpectedly rose in May, ending three straight months of declines as Americans cheered a resilient labor market. The Conference Board's Consumer Confidence Index was 102, above the expected 97.5 and higher than the 96 economists surveyed by Bloomberg had expected. Views of current labor market conditions improved in May, as fewer respondents said jobs were 'hard to get.' Just 13.5% of consumers said jobs were 'hard to get,' down from 15.5% in April. The wealthiest Americans are the most upbeat about the state of the economy, with consumers making more than $100,000 a year expressing 'the largest rise in confidence' among all income cohorts. On a six-month rolling basis, confidence has been the highest among consumers under 35 years old who make more than $100,000 a year. Elevated prices remain a key sticking point for consumers, with consumers citing prices, particularly for food and groceries, as having 'the greatest impact' on their view of the US economy. The Conference Board's reading of 12-month inflation expectations ticked up to 5.4% from 5.3% the month prior. The Conference Board also provided insight into who within the population is feeling better about the economy, with the wealthiest Americans expressing 'the largest rise in confidence' among all income cohorts.
#ConsumerConfidence #LaborMarket #Economy #WealthyAmericans #InflationExpectations
https://finance.yahoo.com/news/consumer-confidence-rebounds-for-first-time-in-3-months-152634694.html
Yahoo Finance /
npub1j0e…3yhd
2024-05-28 18:25:26
Author Public Key
npub1j0e6zhr82q4par2f4ecr67zvj0ltv8qgqr8v3llw2ed6qvdrm4fs9s3yhdPublished at
2024-05-28 18:25:26Event JSON
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"content": "Consumer confidence rebounds for first time in 3 months\n==========\n\nConsumer confidence unexpectedly rose in May, ending three straight months of declines as Americans cheered a resilient labor market. The Conference Board's Consumer Confidence Index was 102, above the expected 97.5 and higher than the 96 economists surveyed by Bloomberg had expected. Views of current labor market conditions improved in May, as fewer respondents said jobs were 'hard to get.' Just 13.5% of consumers said jobs were 'hard to get,' down from 15.5% in April. The wealthiest Americans are the most upbeat about the state of the economy, with consumers making more than $100,000 a year expressing 'the largest rise in confidence' among all income cohorts. On a six-month rolling basis, confidence has been the highest among consumers under 35 years old who make more than $100,000 a year. Elevated prices remain a key sticking point for consumers, with consumers citing prices, particularly for food and groceries, as having 'the greatest impact' on their view of the US economy. The Conference Board's reading of 12-month inflation expectations ticked up to 5.4% from 5.3% the month prior. The Conference Board also provided insight into who within the population is feeling better about the economy, with the wealthiest Americans expressing 'the largest rise in confidence' among all income cohorts.\n\n#ConsumerConfidence #LaborMarket #Economy #WealthyAmericans #InflationExpectations\n\nhttps://finance.yahoo.com/news/consumer-confidence-rebounds-for-first-time-in-3-months-152634694.html",
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