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Despite Surprise Boost in Consumer Confidence, Recession Fears Rose in May

Posted on AllSides May 28th, 2024
From The Right

U.S. consumer confidence unexpectedly improved in May, breaking a three-month slump as consumers felt better about the job market and more optimistic about jobs, business conditions, and incomes in the months ahead. At the same time, consumers felt worse about their household finances, expect more inflation and higher interest rates, and worries about a recession increased. The Conference Board’s confidence index surged to 102, up from an upwardly revised 97.5 in April, according to Tuesday’s data. Economists had forecast a decline to 95.3. May’s index of present conditions rose for...

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