US Conference Board consumer confidence rose to 128.0 in May, up from revised 125.6 in April, met expectations.
Conference Board noted in the release that:
- Consumer confidence increased in May after a modest decline in April,
- Consumers’ assessment of current conditions increased to a 17-year high (March 2001, 167.5), suggesting that the level of economic growth in Q2 is likely to have improved from Q1.
- Consumers’ short-term expectations improved modestly, suggesting that the pace of growth over the coming months is not likely to gain any significant momentum.
- Overall, confidence levels remain at historically strong levels and should continue to support solid consumer spending in the near-term.
