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Consumer Confidence Bounces In May, ‘Present Situation’ Highest In 17 Years

Courtesy of ZeroHedge. View original post here.

Confidence in the 'present situation' reached its highest since March 2001, and thanks to a downward revision in April, May's 'future expectations' bounced modestly leaving the headline just shy of cycle peaks…

Consumer confidence rose to a three-month high in May, according to a report Tuesday from the New York-based Conference Board.


The group’s index increased to 128, from a downwardly revised 125.6 in the prior month. The reading matched the median forecast in a Bloomberg survey of economists.

Business Conditions improved (but expectations for business conditions in 6 months declined), "jobs plentiful" increased once again (but so did "jobs hard to get"), and income expectations declined.

There was a small rebound in expectations for higher stock prices and a modest drop in expectations for higher rates, even though inflation expectations jumped to 5.0% in the next 12 months.

However, we note that "plans to buy a car, home, or major appliance" in the next six months all dropped in May.


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