The Conference Board Consumer Confidence Index, which had improved in April, increased again in May. The index now stands at 76.2 (1985=100), up from 69.0 in April. The Present Situation Index increased to 66.7 from 61.0. The Expectations Index improved to 82.4 from 74.3 last month. Consumers’ appraisal of present-day conditions also improved in May.
Those saying business conditions are “good” increased to 18.8% from 17.5%, while those stating business conditions are “bad” decreased to 26.0% from 27.6%. Consumers’ assessment of the labor market was also more positive. Those claiming jobs are“plentiful” increased to 10.8% from 9.7%, while those claiming jobs are “hard to get” edged down to 36.1% from 36.9%.