Consumer confidence rebounded in May following five months of decline, as Americans became more optimistic about potential U.S.-China trade deals. The Conference Board’s Consumer Confidence Index rose to 98.0 from 85.7 in April, with notable increases in both current conditions and future expectations. The improvement was broad-based across age, income, and political groups, though moving averages remained below previous levels due to prior declines.
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Consumer confidence rebounded in May, driven by optimism over trade deals and improved economic expectations.
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Purchasing plans for homes, cars, vacations, and big-ticket items increased, along with intentions for service spending.
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Affordability concerns were more prevalent than job security worries, with notable differences in financial behavior between income groups.
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